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3 You Own A Firm That Produces Frozen Singleserve Meals There Are

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Deadweight Loss = (300)(1400) =gt; (150)(700) = $105,000
3. You own a firm that produces frozen single-serve meals. There are many other firms
producing similar, but not identical frozen meals. Your firm’s cost and revenue conditions are
depicted below.
P
$3
$2
$1
10,000
20,000
30,000
Q your frozen meals
40,000
a. What type of market are you operating in (which market structure)? (1)
b. Will your firm produce the allocationficient amount of output? Use the graph
above and explain verbally. (3) vid 13.3Microeconomics