Use the Figure Below to Answer the Following Questions

question 18

Multiple Choice

Use the figure below to answer the following questions.

Figure 14.2.5
-Refer to Figure 14.2.5 The figure shows the situation facing Smart Digit, Inc., a firm in monopolistic competition that produces calculators. What is the firm's economic profit per day?

• A)zero
• B)between $1 and $700
• C)between $701 and $900
• D)more than $901
• E)less than zero

---

Definitions:

Price-output Behavior

The relationship between the price levels of products and the quantity produced or supplied in the market.

Marginal Revenue

The added financial gain achieved by the sale of one extra unit of a product or service.

Monopolist

A single supplier in a market who has exclusive control over the supply of a particular good or service and can influence the market price.

Big Data

Large and complex data sets that conventional data processing software cannot handle efficiently, requiring advanced analytical methods to reveal patterns, trends, and associations.