How much revenue will it take in each day?

Assume that in short-run equilibrium a particular monopolistically competitive firm charges $12 for Show more Assume that in short-run equilibrium a particular monopolistically competitive firm charges $12 for each unit of its output and sells 60 units of output per day. The average total cost (ATC) for those 60 units is $16. Round your answers below to the nearest whole number. How much revenue will it take in each day? $ What will be its economic profit or loss? (Click to select)Profit Neither profit nor lossLoss of $ Next suppose that entry or exit occurs in this monopolistically competitive industry and establishes a long-run equilibrium. If the firms daily output remains at 60 units what price will it be able to charge? $ What will be its economic profit or loss? (Click to select)Profit Loss Neither profit nor loss of $ Show less

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