A monopolistically competitive firm is producing 50 units of output in the short run where marginal cost is $3.00, average toal cost is $5.00, price… | Cheap Nursing Papers
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A monopolistically competitive firm is producing 50 units of output in the short run where marginal cost is $3.00, average toal cost is $5.00, price…

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A monopolistically competitive firm is producing 50 units of output in the short run where marginal cost is $3.00, average toal cost is $5.00, price is $4.50, average variable cost is $4.00 and marginal revenue is $3.0

a) Represent the above in a graph and calculate how much profit is the firm making?

b) What output recommendation would you make for the firm ?

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