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Dante52 Dante52
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2 years ago

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

Short description: A graph plots Q against dollars. Long description: The horizontal axis representing Q ranges from 0 to 900, in increments of 150. The vertical axis representing dollars ranges from 0 to 35, in increments of 5. The graph plots two lines and two curves. The curve, ATC passes through the following points: (300, 30), (450, 15), (600, 12), and (750, 15). The curve, MC passes through the following points: (300, 6), (450, 9), (600, 12), and (710, 17). Line, D passes through the following points: (150, 35), (450, 25), (600, 20), and (750, 15). The line, MR passes through the following points: (150, 30), (300, 19), (390, 15), and (450, 8). The two curves intersect at (600, 12). The curve, ATC intersects the line, D at points, (300, 30) and (750, 15). The curve, MC intersects the line, D and line, MR at points at (710, 17) and (450, 8). Note: all values are approximate.

FIGURE 11-2

Refer to Figure 11-2. At the profit-maximizing level of output, total revenue (TR) of the firm is



▸ $25.

▸ $11 250.

▸ $450.

▸ $9000.

▸ $12 000.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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hamusa4hamusa4
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Dante52 Author
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2 years ago
Thanks for your help!!
aznzergs
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Yesterday
Thanks
Liarec
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2 hours ago
Thank you, thank you, thank you!
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