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Author Question: The diagram below shows selected cost and revenue curves for a firm in a monopolistically ... (Read 21 times)

zl00505

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on: Oct 12, 2022

The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry.



FIGURE 11-5

Refer to Figure 11-5. How is the excess-capacity theorem demonstrated in this diagram?


◦ In long-run equilibrium, the firm is earning positive profits, but has unexploited economies of scale.
◦ In long-run equilibrium, this firm has excess capacity because they are selling output at a price below their LRAC.
◦ The long-run equilibrium occurs where the firm is producing output at q0, which is less than that corresponding to the lowest point on its LRAC curve.
◦ The long-run equilibrium occurs where the firm is producing output at q1, which is the same as for a perfectly competitive industry.
◦ The short-run equilibrium occurs where the firm is producing output at q0, which is less than that corresponding to the lowest point on its LRAC curve.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by zl00505 on Oct 12, 2022

khudija

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Reply #1 on: Oct 12, 2022
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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zl00505

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Dnite

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Reply 3 on: Yesterday
Excellent

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