A monopolistically competitive firm faces the demand and cost data shown in the following table. Graph the demand, marginal revenue, marginal cost, and average total cost curves. What are the firm's short-run profit-maximizing price, output, and total profit?
$\begin{array}{ccc}
Q & P & T C \
0 & \$ 8 & \$ 2 \
1 & 7 & 3 \
2 & 6 & 5 \
3 & 5 & 8 \
4 & 4 & 12 \
5 & 3 & 18
\end{array}$

Question

A monopolistically competitive firm faces the demand and cost data shown in the following table. Graph the demand, marginal revenue, marginal cost, and average total cost curves. What are the firm's short-run profit-maximizing price, output, and total profit?
 $\begin{array}{ccc}
Q & P & T C \
0 & \$ 8 & \$ 2 \
1 & 7 & 3 \
2 & 6 & 5 \
3 & 5 & 8 \
4 & 4 & 12 \
5 & 3 & 18
\end{array}$

Quizplus · Accepted Answer

The Answer of A monopolistically competitive firm faces the demand and cost data shown in the following table. Graph the demand, marginal revenue, marginal cost, and average total cost curves. What are the firm's short-run profit-maximizing price, output, and total profit?
 $\begin{array}{ccc}
Q & P & T C \
0 & \$ 8 & \$ 2 \
1 & 7 & 3 \
2 & 6 & 5 \
3 & 5 & 8 \
4 & 4 & 12 \
5 & 3 & 18
\end{array}$

A Monopolistically Competitive Firm Faces the Demand and Cost Data QPTC0$8$217326535844125318\begin{array}{ccc}Q & P & T C \\0 & \$ 8 & \$ 2 \\1 & 7 & 3 \\2 & 6 & 5 \\3 & 5 & 8 \\4 & 4 & 12 \\5 & 3 & 18\end{array}Q012345​P$876543​TC$23581218​

A Monopolistically Competitive Firm Faces the Demand and Cost Data $\begin{array}{ccc}Q & P & T C \\0 & \$ 8 & \$ 2 \\1 & 7 & 3 \\2 & 6 & 5 \\3 & 5 & 8 \\4 & 4 & 12 \\5 & 3 & 18\end{array}$