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Author Question: Mama Lena's, a frozen food producer, is a monopolistically competitive firm. Mama Lena's is ... (Read 387 times)

lbcchick

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on: Apr 19, 2019

Question 1

Refer to the information provided in Figure 15.2 below to answer the question(s) that follow. 







Refer to Figure 15.2. In this monopolistically competitive industry, in the long run


◦ firms will enter until all firms break even economically.
◦ firms will suffer economic losses profits.
◦ demand for the product will increase so that profits are increased.
◦ product supply will decrease so prices will go up.

Question 2

Mama Lena's, a frozen food producer, is a monopolistically competitive firm. Mama Lena's is currently selling frozen lasagna at a price of $10. Mama Lena's marginal cost is $5 and marginal revenue is $5. This firm should ________ to maximize profits in the short run.


◦ increase output to where price just equals marginal cost
◦ decrease output to where price just equals marginal cost
◦ continue to produce the same output level
◦ Indeterminate from the given information.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by lbcchick on Apr 19, 2019

momolu

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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lbcchick

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Reply #2 on: Apr 19, 2019
Excellent


momolu

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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