WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Join your school's WhatsApp group

In a situation when a firm is operating in a perfectly competitive firm and the...

In a situation when a firm is operating in a perfectly competitive firm and the total cost is given to a perfectly competitive firm and the total cost is given as N175.00. If the market price is N70.00 determine the profit. When 25 units are produced

With the aid of diagram(s), explain why a firm in monopolistic competition is unable to earn abnormal profits in the long run.

Use the diagram below to answer the questions that follow.

(b)(i) Which of the curves represents the monopoly demand curve?
(ii) What is the point on the diagram?
(iii) State the equilibrium price and quantity
(iv) Which area represent monopoly profits?
(c) If P1 q = 50 Naira and q1 = 500 units and C = 20 Naira, determine the monopoly profit.?

Myschool's prices for products & services are going up in November - Buy what you need now
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Join your school's WhatsApp group
To get notifications when anyone posts a new answer to this question,
Follow New Answers

Post an Answer

Please don't post or ask to join a "Group" or "Whatsapp Group" as a comment. It will be deleted. To join or start a group, please click here

{{ quote.posted_by.display_name }}
{{ settings.form_textarea_description }}
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Myschool's prices for products & services are going up in November - Buy what you need now
Join your school's WhatsApp group

Answers ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}
Ask Your Own Question

Quick Questions

See More Economics Questions
 
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Join your school's WhatsApp group
Join your school's WhatsApp group
Myschool's prices for products & services are going up in November - Buy what you need now
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996