461041867 Fal 2017 EC201-01 MW 10am-11.50am Homework: Homework Chapter 13 Score:

Question

461041867 Fal 2017 EC201-01 MW 10am-11.50am Homework: Homework Chapter 13 Score: 0 25 of 1 pt 27 of 40 (40 HW Score: 90 75%, 363 of 40 pts End of Chapter 4.6 Consider the graph to the rigt is it possilbbe to sa whvether this e is A. No Either type of fem can face a downward-sloping dermand curve B. Yes This is a monopolistically competitive fem because is demand curv is downward sloping Yes This is a perfectly competieve firm, because its dernardorve h downward sloping ° C. ATC The graph shows a-long run zero economic profts to select your answer(s) and then click Check Answer 1

Explanation / Answer

Solution:

Yes. This is a monopolistically competitive firm because its demand curve is downward sloping

The graph shows short run equilibrium because the firm is making positive profits

Explanation: Under the market structure of monopolistically competitive firm the barriers to entry are low and many firms compete by selling similar product however not identical

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