Complete the Table Below for a Monopolistically Competitive Firm

question 91

Essay

Complete the table below for a monopolistically competitive firm: $\begin{array} { l } \text { output}& \text { price}& \text { total revenue}& \text {marginal revenue }& \text { total cost}& \text { average total cost}& \text { marginal cost}& \text {profit } \\0&\$14&\$0&-&\$2&-&-&-\$2\\1&12&&\$12&6&\$6&\$4\\2&&20&&8&&2\\3&8&&4&12&4&4\\4&&24&0&20&5\\5&4&&-4&34&7&14\end{array}$

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Definitions:

Present Value Factor

A factor used to calculate the present value of a future amount of money or stream of cash flows given a specific rate of return.

Desired Rate

A term that can refer to the ideal or target interest rate set by an individual or institution, often in the context of investing or borrowing.

Average Rate of Return

A calculation used to estimate the profitability of an investment, expressed as a percentage of the initial cost of the investment.

Straight-Line Depreciation

A method of allocating the cost of a fixed asset evenly across its useful life, resulting in a consistent depreciation expense each accounting period.