Refer to the information provided in Figure 15.4 below to answer ...

[2125004343]

Excellent

[jonathanballen97]

Great! Please up vote

[mpobi80]

Question 1

Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 












Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $150 and is a monopolistically competitive firm. To maximize profits, the firm ________ of $23.

◦ has an average total cost
◦ earns a per-unit profit
◦ should set a price
◦ has an average fixed cost

Question 2

Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 












Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $150 and is a monopolistically competitive firm. If the firm produces the profit-maximizing level of output and sells it at the profit-maximizing price, the firm ________ of $100.

◦ earns a profit
◦ has an average variable cost
◦ suffers a loss
◦ has a marginal cost

[ktidd]

Answer 1

should set a price

Answer 2

suffers a loss

[biggirl4568]

Question 1

Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 












Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $90 and is a monopolistically competitive firm. If the firm is attempting to maximize profits, its profit is

◦ -$175.
◦ -$100.
◦ -$75.
◦ $0.

Question 2

Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 












Refer to Figure 15.4. In the long run, in this monopolistically competitive industry

◦ some firms will leave the industry until the remaining firms break even economically.
◦ all firms will leave the industry.
◦ some firms will enter the industry and industry profits will increase.
◦ product supply will increase so prices will go up.

[cadimas]

Answer 1

-$100.

Answer 2

some firms will leave the industry until the remaining firms break even economically.

[biggirl4568]

Thank you!

[cadimas]

Always glad to help...