Table 9.3
$$\begin{array} { | c | c | c | c | c | }
\hline \text { Quantity } & \begin{array} { c }
\text { Price } \
\text { (dollars) }
\end{array} & \begin{array} { c }
\text { Total Revenue } \
\text { (dollars) }
\end{array} & \begin{array} { c }
\text { Total Variable } \
\text { Cost } \
\text { (dollars) }
\end{array} & \begin{array} { c }
\text { Total Cost } \
\text { (dollars) }
\end{array} \
\hline 0 & 21 & 0 & 0 & 50 \
\hline 1 & 20 & 20 & 16 & 66 \
\hline 2 & 19 & 38 & 31 & 81 \
\hline 3 & 18 & 54 & 45 & 95 \
\hline 4 & 17 & 68 & 59 & 109 \
\hline 5 & 16 & 80 & 75 & 125 \
\hline 6 & 15 & 90 & 93 & 143 \
\hline 7 & 14 & 98 & 112 & 162 \
\hline 8 & 13 & 104 & 140 & 190 \
\hline 9 & 12 & 108 & 180 & 230 \
\hline 10 & 11 & 110 & 230 & 280 \
\hline
\end{array}$$ Table 9.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 9.3.If this firm continues to produce,what is likely to happen to the product's price in the long run?

Question

Table 9.3
 $$\begin{array} { | c | c | c | c | c | } 
\hline \text { Quantity } & \begin{array} { c } 
\text { Price } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Revenue } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Variable } \
\text { Cost } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Cost } \
\text { (dollars) }
\end{array} \
\hline 0 & 21 & 0 & 0 & 50 \
\hline 1 & 20 & 20 & 16 & 66 \
\hline 2 & 19 & 38 & 31 & 81 \
\hline 3 & 18 & 54 & 45 & 95 \
\hline 4 & 17 & 68 & 59 & 109 \
\hline 5 & 16 & 80 & 75 & 125 \
\hline 6 & 15 & 90 & 93 & 143 \
\hline 7 & 14 & 98 & 112 & 162 \
\hline 8 & 13 & 104 & 140 & 190 \
\hline 9 & 12 & 108 & 180 & 230 \
\hline 10 & 11 & 110 & 230 & 280 \
\hline
\end{array}$$ Table 9.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 9.3.If this firm continues to produce,what is likely to happen to the product's price in the long run?

Quizplus · Accepted Answer

The Answer of Table 9.3
 $$\begin{array} { | c | c | c | c | c | } 
\hline \text { Quantity } & \begin{array} { c } 
\text { Price } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Revenue } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Variable } \
\text { Cost } \
\text { (dollars) }
\end{array} & \begin{array} { c } 
\text { Total Cost } \
\text { (dollars) }
\end{array} \
\hline 0 & 21 & 0 & 0 & 50 \
\hline 1 & 20 & 20 & 16 & 66 \
\hline 2 & 19 & 38 & 31 & 81 \
\hline 3 & 18 & 54 & 45 & 95 \
\hline 4 & 17 & 68 & 59 & 109 \
\hline 5 & 16 & 80 & 75 & 125 \
\hline 6 & 15 & 90 & 93 & 143 \
\hline 7 & 14 & 98 & 112 & 162 \
\hline 8 & 13 & 104 & 140 & 190 \
\hline 9 & 12 & 108 & 180 & 230 \
\hline 10 & 11 & 110 & 230 & 280 \
\hline
\end{array}$$ Table 9.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 9.3.If this firm continues to produce,what is likely to happen to the product's price in the long run?

Table 93 Table 93 Shows the Demand and Cost Schedules for a Monopolistically