econ
tquach49
econ11111.docx16.
a. Suchin's profit-maximizing quantity of T-shirts is shirts per week.
b. Suchin should charge per T-shirt to maximize profits.
c. Suchin will make an economic profit of per week.
d. The allocatively efficient number of T-shirts for Suchin to produce is T-shirts.
e. If the population of college students increases, and Suchin's costs do not change, Suchin would expect the demand for her shirts to and her profits to .
f. If the market for T-shirts is monopolistically competitive, an increase in the student population will lead to:
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Product choice decreasing. |
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Productive efficiency increasing. |
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T-shirt companies entering the market. |
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T-shirt companies leaving the market. |
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