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Mays and mccovey are beer brewing companies

03/04/2021 Client: muhammad11 Deadline: 2 Day

I’m working on a Economics question and need guidance to help me study.

I must receive a high B or an A on this assignment. Each question has three attempts, the same question is not used in the new attempts, you will send me your first round of answers, I will plug them in, make sure they are correct, if the grade is high enough you will not have to do any other attempts, if not, I will send you the second attempts etc.

I will send ALL graphs when a tutor is chosen.

1) Consider a store that produces bagels in a monopoly competitive market. The following graph shows its demand curve (Demand), marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). Assume that the company is operating in the short run.

*Graph 1*

The profit-maximizing level of output is _____ (960, 800, 1080) bagels per day at a price of _______ ($1.50, $2.25, $3, $2.50, $2.10) each.

At the profit- maximizing output and price, the store's profit equals ________ ($800, $0, -$600, -$800, -$200, $600, $200).

Given the profit-maximizing choice of output and price, the store is making _____ (negative, zero, positive) profit, which means that there are ________(an equal number of, fewer, more) stores in the industry relative to the long-run equilibrium.

2) Kitsch Bikes is a company that manufactures bikes in a nationalistically competitive market. Assume that Kitsch Bikes is operating in the short run.

Graph 2 shows Kitsch's demand curve (Demand), marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC).

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