Answered

Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

NEED ANSWER TODAY!!!!!
Select a product. It can be real or made up. Give your good or service a name and a price in U.S. dollars. Identify the market type for your product (pure/perfect competition, monopolistic competition, oligopoly, monopoly).
Draw a marginal analysis graph. Title it the market for the product you chose. Label the axes, the marginal cost curve (MC), the marginal revenue curve (MR), and the profit-maximizing quantity (Qpm). You do not need to use real numbers.
Answer the reflection questions in complete sentences:
What is your product and its price? What type of market does your product exist in?
Why is the marginal cost curve the same basic shape, no matter the product?
At the profit-maximizing quantity, is the price of your product equal to, higher than, or lower than marginal cost? Explain.
Assume Qpm is 100 units. What is your total revenue?
Why would an already-successful business owner conduct a marginal cost analysis for their product?
Submit your work. This includes your graph image file and separate text responses to the questions.

Sagot :

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.