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5. Deriving the short-run supply curve Consider the perfectly competitive market for dress shirts. The following graph showsFor each price in the following table, use the graph to determine the number of shirts this firm would produce in order to maOn the following graph, use the orange points (square symbol) to plot points along the portion of the firms short-run supply

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Answer #1
P Q P/S P/L
4 0 S L
8 0 S L
12 Either 0 or 36000 Either P or S L
36 48000 P Breakeven
48 52000 P P
60 56000 P P

Firms Short-Run Supply PRICE (Dollars per shirt) HHHHHHHHHH O + 0 + + + + + + + + + 8 16 24 32 40 48 56 64 72 QUANTITY OF OU

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