Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 31 May 2017 My Price 8.00

allocatively efficient output level

Suppose that an oligopolistically competitive restaurant is currently serving 230 meals per day (the output where MR=MC). At that output level, ATC per meal is $10 and consumers are willing to pay $12 per meal. What is the size of this firm's profit or loss? Will there be entry or exit? Will this restaurant's demand curve shift left or right? In long-run equilibrium, suppose that this restaurant charges $11 per meal for 180 meals and that the marginal cost of the 180th meal is $8. What is the size of the firm's profit. Suppose that the allocatively efficient output level in long-run equilibrium is 200 meals. Is the dead weight loss for this firm greater than or less than $60?

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Maurice Tutor
(5)
Status NEW Posted 31 May 2017 06:05 PM My Price 8.00

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