A Monopolistically Competitive Firm Faces the Demand and Cost Data $\begin{array}{ccc}Q & P & T C \\0 & \$ 8 & \$ 2 \\1 & 7 & 3 \\2 & 6 & 5 \\3 & 5 & 8 \\4 & 4 & 12 \\5 & 3 & 18\end{array}$

question 269

Essay

A monopolistically competitive firm faces the demand and cost data shown in the following table. Graph the demand, marginal revenue, marginal cost, and average total cost curves. What are the firm's short-run profit-maximizing price, output, and total profit?
$\begin{array}{ccc}Q & P & T C \\0 & \$ 8 & \$ 2 \\1 & 7 & 3 \\2 & 6 & 5 \\3 & 5 & 8 \\4 & 4 & 12 \\5 & 3 & 18\end{array}$

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