-Sam's hamburger shop, represented by Exhibit K-1, is a monopolistic competitor
A) making a profit of $100
B) producing an economically efficient output level of 50 hamburgers
C) in long-run equilibrium at 50 units of output
D) taking in $400 of revenue
E) who can expect new entrants to the market

Question

-Sam's hamburger shop, represented by Exhibit K-1, is a monopolistic competitor
A) making a profit of $100 
B) producing an economically efficient output level of 50 hamburgers 
C) in long-run equilibrium at 50 units of output 
D) taking in $400 of revenue 
E) who can expect new entrants to the market

Quizplus · Accepted Answer

The Answer of 
-Sam's hamburger shop, represented by Exhibit K-1, is a monopolistic competitor
A) making a profit of $100 
B) producing an economically efficient output level of 50 hamburgers 
C) in long-run equilibrium at 50 units of output 
D) taking in $400 of revenue 
E) who can expect new entrants to the market

-Sam's Hamburger Shop, Represented by Exhibit K-1, Is a Monopolistic