Question : 11) Kevin owns a personal training gymnasium in Orlando. The : 1241286

 

 

11) Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. Kevin will train how many clients per day?

A) 4

B) 6

C) 10

D) between 2 and 4

E) None of the above answers is correct.

 

12) Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. What price will Kevin charge per session?

A) $100

B) $60

C) $40

D) $20

E) $80

13) Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. If Kevin trains 5 clients per day, he will ________ his profit and will ________.

A) maximize; make zero economic profit

B) not maximize; make zero economic profit anyway

C) maximize; make an economic profit

D) not maximize; make an economic profit anyway

E) not maximize; incur an economic loss

 

14) The above figure shows a restaurant engaged in monopolistic competition with other restaurants. The equilibrium price at this restaurant is ________ per meal.

A) $20

B) $30

C) $50

D) less than $20

E) more than $50

15) The above figure shows a restaurant engaged in monopolistic competition with other restaurants. The equilibrium quantity at this restaurant is ________ meals per day.

A) less than 150

B) between 151 and 250

C) between 251 and 350

D) between 451 and 450

E) more than 451

 

16) The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium price at this motel is ________ per room.

A) $20

B) $30

C) $40

D) $50

E) $10

17) The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium quantity at this motel is ________ rooms per day.

A) 200

B) 300

C) 400

D) 500

E) 100

 

18) The above figure shows a motel engaged in monopolistic competition with other motels. the figure above shows the ________ equilibrium in which the motel is ________ .

A) short-run; making an economic profit

B) short-run; making zero economic profit

C) long-run; making an economic profit

D) long-run; making zero economic profit

E) short-run; incurring an economic loss

 

19) The figure above shows Firm X, a firm that is maximizing profit. The firm is making an economic ________ because it produces ________ units and charges ________ per unit.

A) loss; 100; $20

B) profit; 100; $10

C) profit; 100; $30

D) loss; 120; $28

E) loss; 110; $20

 

20) The figure above shows Firm X. The firm is operating in the ________ because it ________.

A) short run; minimizes its loss when it produces 100 units

B) short run; maximizes profit when it produces 110 units

C) short run; minimizes its loss when it produces 110 units

D) long run; minimizes its loss when it produces 100 units

E) long run; maximizes profit when it charges $30 per unit

21) The figure above shows Firm X.  The firm is a monopolistically competitive market. The firm makes an ________ in the short run but will ________ in the long run.

A) economic loss of $10 per unit; go out of business or make a zero economic profit

B) economic loss of $2 per unit; make an economic profit

C) economic profit $10 per unit; make zero economic profit

D) economic profit of $1000; definitely go out of business

E) economic loss of $10 per unit; definitely face more competition

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more