This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The above figure represents Tony's Pizza Parlor, a firm in monopolistic competition. a. What ... (Read 61 times)

Wadzanai

  • Hero Member
  • *****
  • Posts: 528
on: Jun 29, 2018
The above figure represents Tony's Pizza Parlor, a firm in monopolistic competition.
 
  a. What quantity will be produced?
  b. What price will be charged?
  c. What is Tony's total cost?
  d. What is Tony's total revenue?
  e. What is Tony's economic profit or loss?
  f. Is this a long-run equilibrium? Why or why not?

Question 2

Refer to the figure above. If the supply curve for flash drives shifts from S1 to S2, with no change in the demand curve, the new competitive equilibrium quantity is:
 
  A) 10 units.
  B) 20 units.
  C) 40 units.
  D) 60 units.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ansleighelindsey

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 29, 2018
Answer to Question 1

a. 40 pizzas per day
b. 12.00 per pizza
c. 320
d. 480
e. Tony has an economic profit of 160.
f. This is not a long-run equilibrium because Tony is earning an economic profit. In the long run, new firms will enter and Tony's economic profit will be eliminated.

Answer to Question 2

A


Wadzanai

  • Member
  • Posts: 528
Reply 2 on: Jun 29, 2018
Wow, this really help

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

A stallion with a proven competition record is one criterion for being a suitable sire. A stallion with a proven competition record is one criterion for being a suitable sire.
Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ... Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ...
Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ... Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ...
Bayesian Analysis of the Genotype of II-2 in Figure A.4 Bayesian Analysis of the Genotype of II-2 in Figure A.4
Video: Facilitated Diffusion - Glucose transport

For a complete list of videos, visit our video library