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reproduce your graph from question 1, but add an average total cost curve to the pictures in such a waya that the firm is earning zero profits
Question: Draw a graph showing demand curve, marginal-revenue curve, average-total-cost curve, and marginal-cost curve when monopolistic competitor in long run in loss situation.
Use the following graph showing the average total cost curve for a perfectly competitive firm to answer the next question. $20 ATC 15 80 10 20 30 40 50 Quantity 60 70 At the long-run equilibrium level of output, this firm's total cost 10 Multiple Choice cannot be determined from the Information provided. Is $10. is $400 is $40.
The following graph shows the average total cost (ATC) curve, average variable cost (AVC) curve, and average fixed cost (AFC) curve for Eleanor's Pizza Parlor when the retail price Eleanor pays for pizza sauce, including sales tax, is $15 per gallon. ATC AVC OUTPUT (Pizzas per day) Suppose the sales tax on pizza sauce is removed, so the price of pizza sauce decreases to $14 per gallon. In the following table, indicate how each cost and curve is affected, if...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
7. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Q1 marks the point of tangency between SRATC1 and LRATC The orange point on SRATCs indicates the firm's current output level in the short run (Q5). SRATC SRATC SRATC4...
QUESTION 17 If Ajax a manufacturing firm is earning zero economic profits A. the revenues for Ajax are sufficient to pay explicit costs but not implicit costs B. the owner of Ajax are earning enough to pay their explicit costs only C. the owner of Ajax will not be able to pay himself D. Ajax will shut down in the long run, but will continue to operate in the short run
6. (10 points) Draw a graph showing the short-run average total, average variable, and marginal cost curves for a typical firm. Draw in three prices that result in the firm making positive profits, breaking even, and making negative profits that are less than fixed costs.
6. (10 points) Draw a graph showing the short-run average total, average variable, and marginal cost curves for a typical firm. Draw in three prices that result in the firm making positive profits, breaking even,...
On a short-run cost curve graph, if the market price, the marginal cost, and average total cost curve all intersect at one point, then what would that mean? Multiple Choice A- The business is making a high level of economic profit. B- The business has done an excellent job at cutting costs. C- The business is breaking even and the economic profit is either zero or very low. D- The business is ready for bankruptcy and we can definately say...
Question. Given the data below, reproduce and fill in the table in your answer, graph the results on appropriate graphs. Assume firm has only labor as a resource/input. L Wage Bill Total Resource Cost MRC MRP 100 $4000 9000 200 $4000 8000 300 $4000 7000 400 $4000 6000 500 $4000 5000 600 $4000 4000 700 $4000 3000 b) This labor market is imperfectly competitive. True, False, explain in detail. Why does the Marginal Resource (Labor) Cost curve have the shape...
3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with...