Economics Today 18th Edition by Roger LeRoy Miller

تمرين 4

Based on your answer to Problem 25-3, is the firm with the revenue and cost conditions depicted in Problem 25-2 behaving "anticompetitively" in the sense of intentionally "taking advantage" of consumers by charging them a price greater than marginal cost? Explain your reasoning.
REF PRB:
In a perfectly competitive market, price equals marginal cost, but this condition is not satisfied for the firm with the revenue and cost conditions depicted in Problem 25-2. In the long run, what would happen if the government decided to require the firm in Problem 25-2 to charge a price equal to marginal cost at the firm's long-run output rate?
REF PRB:
Consider the diagram at the top of next column depicting the demand and cost conditions faced by a monopolistically competitive firm.
a. What are the total revenues, total costs, and economic profits experienced by this firm?
b. Is this firm more likely in short- or long-run equilibrium? Explain.