Refer to figure 13 9 which of the graphs in the

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28) Refer to Figure 13-9. Which of the graphs in the figure depicts a monopolistically competitive firm that is earning economic profits? A) Panel A B) Panel B Q 1 units B) Q 2 units C) Q 3 units D) Q 4 units Figure 13-11 29) Refer to Figure 13-11. What is the monopolistic competitor's profit-maximizing output? A) Q 1 units B) Q 2 units C) Q 3 units D) Q 4 units 30) Refer to Figure 13-11. What is the monopolistic competitor's profit-maximizing price? 1 2 3 4 31) Refer to Figure 13-11. The firm represented in the diagram 32) Refer to Figure 13-11. What is the productively efficient output for the firm represented in the diagram? A) Q 1 units B) Q 2 units C) Q 3 units D) Q 4 units 33) Refer to Figure 13-11. What is the allocatively efficient output for the firm represented in the diagram? 34) Refer to Figure 13-11. The diagram depicts a firm 35) Refer to Figure 13-11. What is the amount of excess capacity? A) Q 4 - Q 3 units B) Q 4 - Q 2 units C) Q 3 - Q 2 units
36) For productive efficiency to hold,
37) For allocative efficiency to hold,
38) Is a monopolistically competitive firm productively efficient? A) No, because it does not produce at minimum average total cost.
B) Yes, because it produces where marginal cost equals marginal revenue. C) No, because price is greater than marginal cost. D) Yes, because price equals average total cost.
39) Is a monopolistically competitive firm allocatively efficient?

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