$14 $13 $12 MC $11 $10 MR $9 ATC $8 Price of Hats $7 AVC $6 $5 $4 $3 $2 $1 $0 0 1 2. 3 4 5 6 7 8 9 10 Quantity of Hats The graph above show information about costs and revenue for a small hat factory in a perfectly competitive market. How much profit does the hat factory make? $16 $12 $8 $10
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
MC ATC Cost of Flashlights $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 0 1 AVC 2 3 4 5 6 7 8 9 10 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? $7 $10 $13 $5 $
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...
Exhibit 8-10 Price and cost data for a firm Q P AVC ATC MC 0 $7 - - - 1 7 3 5 5 2 7 5 6 7 3 7 7.3 8 12 4 7 9.5 10 16 In Exhibit 8-10, following the rule regarding MR and MC, the most profitable output level is: Group of answer choices A. 0. B. 1. C. 2. D. 3. E. 4.
Question 20 (1 point) $20 $18 $16 ATC MC $14 $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Sweatpants -F -F +- $0 + 0 1 + 2 3 4 5 6 7 Quantity of Sweatpants 8 9 10 The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for...
Question 23 (2 points) The graph below shows the average total cost and marginal cost curves of a perfectly competitive firm. If the market price is $7, what is the output level that maximizes the firm's profit? 12 11 10 MC ATC 9 8 Price $/Q S 4 3 2 0 1 2 3 6 7 8 9 10 11 12 13 14 15 16 Quantity Q23 Q=4 3 N 1 0 0 4 5 6 7 8 9 10...
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2. $0 7 Cost Curves Sweatpants Firm 1 2 10 O 3 4 5 6 7 8 9 Quantity of Sweatpants The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for sweatpants is perfectly competitive and all sweatpants firms have the same costs. What is the long-run equilibrium price...
if there is a $2 tax on sellers what is the quantity demanded? Price Quantity Demanded Quantity Supplied 5 600 200 6 500 300 7 400 400 8 300 500 9 200 600 10 100 700 300 400 500 200 what is the profit maximizing point? mr=mc p=mr p>atc P<atc What is the shutdown point? P=ATC P=AFC P=MR P=AVC If the price is $4 what is Beth's consumer surplus? Price 3 4 Quantity Demanded Ann Beth 30 25 25 20...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...