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thedrunkmind thedrunkmind
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2 years ago
The graph shows the demand curve (D), marginal revenue curve (MR), long-run average cost curve (LRAC), and long-run marginal cost curve (LRMC) for a firm in a monopolistically competitive industry.



Assume that P1=$140, P2=$241, P3=$364, P4=$414, Q1=50, and Q2=185. At the profit-maximizing level of output, the firm earns an economic profit of ________ so firms will ________ (enter/exit) the market.
Please round your final answer to two decimal places.

▸ $6150.00, exit

▸ $11,200.00, exit

▸ $41,440.00, enter

▸ $22,755.00, enter
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Macroeconomics

Macroeconomics


Edition: 3rd
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malgrextoutmalgrextout
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2 years ago
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thedrunkmind Author
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2 years ago
Good timing, thanks!
IvanaVR
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Yesterday
Smart ... Thanks!
gage
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2 hours ago
Brilliant ツ
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