Answer to Question #36350 in Macroeconomics for sugunah

Question #36350
Q TC (RM) MC (RM) P (RM) MR (RM) AR (RM) TR (RM) Total Profit (RM) 0 10 10 - 0 0 - 1 16 6 9 9 9 9 -7 2 20 4 8 7 8 16 -1 3 25 5 7 5 7 21 -0.43 4 32 7 6 3 6 24 -0.5 5 42 10 5 1 5 25 -0.68 6 56 14 4 -1 4 24 -0.88 7 75 19 3 -3 3 21 -1.10 8 100 25 2 -5 2 16 -1.31 9 132 32 1 -1 1 9 -1.52 Determine the price and output at equilibrium for this imperfectly competitive firm. Is this a short-run or long-run equilibrium? Why?
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Expert's answer
2013-10-22T09:08:14-0400

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