Homework Answers
Answer. Option B is correct.
In the competitive firm, each firm charges the price equals to marginal cost. So, the maginal cost curve that is above average variable cost curve is also the supply curve curve of the competitive firms.
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Which of these curves is the competitive firm's short-run supply curve? . Select one: a. the...
Question 8 Which of these curves is the competitive firm's supply curve? O the average variable...
Question 8 Which of these curves is the competitive firm's supply curve? O the average variable cost curve above marginal cost O the average total cost curve above marginal cost O the marginal cost curve above average variable cost o the marginal cost curve above average total cost
In a graph showing the short-run cost curves, the one curve which declines continuously as we...
In a graph showing the short-run cost curves, the one curve which declines continuously as we expand output is called O A. the average fixed cost curve. O B. the marginal cost curve. OC. the average total cost curve. O D. the average variable cost curve.
Figure below shows the cost curves for a perfectly competitive firm. / A / Quantity This firm's short run supply cu...
Figure below shows the cost curves for a perfectly competitive firm. / A / Quantity This firm's short run supply curve is the section of the MC curve between points O A and D. EE TE FO B and D. S C and D. e B and C.
1. A. Graph the short-run supply curve for a perfectly competitive firm and explain where this...
1. A. Graph the short-run supply curve for a perfectly competitive firm and explain where this short-run supply curve lies. Indicate the following curves on your graph: marginal cost curve, marginal revenue curve, average-total-cost curve, average-variable-cost curve, short-run supply curve. B Complete the chart for Elmer's Wheat farm. Quantity of Output Total Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue Profit/ Loss 0 $75 $ --- $ --- $ --- $0 $ --- - $75 1 220...
deriving the short-run supply curve. consider the competitive market for sports jackets. The following graph shows...
deriving the short-run supply curve.
consider the competitive market for sports jackets. The
following graph shows the marginal cost (MC), average total cost
(ATC) and average variable cost (AVC) curves for a typical firm in
the industry.
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph...
6. Deriving the short-run supply curve
Consider the competitive market for halogen lamps. The following
graph shows the marginal cost (MC), average total cost (ATC), and
average variable cost (AVC) curves for a typical firm in the
industry.
Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas...
Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P =0.000002Q Demand curve: P = 11 - 0.00002Q The short run marginal cost curve for one tortilla factory is: MC = 0.0005q The firm's average variable cost curve intersects the marginal cost at a vertical distance of 0.1 above the horizontal axis. a. Determine the equilibrium price for tortillas. b. Determine the profit maximizing short run equilibrium...
4. Deriving the short-run supply curve Consider the perfectly competitive market for dress shirts. The following graph...
4. Deriving the short-run supply curve Consider the perfectly competitive market for dress shirts. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero shirts and the profit-maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run....
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph...
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. COSTS (Dollars) AVC МСП OHH 0 10 90 100 20 30 40 50 60 70 80 QUANTITY (Thousands of lamps) On the following graph, use the orange points (square symbol) to plot points along the portion of the firm's short-run supply curve...
The long-run supply curve for a perfectly competitive, constant-cost industry O is horizontal at minimum ATC....
The long-run supply curve for a perfectly competitive, constant-cost industry O is horizontal at minimum ATC. O is upward-sloping. O is horizontal at minimum AVC. O is found by adding up the marginal cost curves for all firms in the industry. As more firms enter the market: O the short-run market demand curve shifts to the left. O the short-run market supply curve shifts to the right. O the short-run market supply curve shifts to the left. O the short-run...
Question 8 Which of these curves is the competitive firm's supply curve? O the average variable cost curve above marginal cost O the average total cost curve above marginal cost O the marginal cost curve above average variable cost o the marginal cost curve above average total cost
In a graph showing the short-run cost curves, the one curve which declines continuously as we expand output is called O A. the average fixed cost curve. O B. the marginal cost curve. OC. the average total cost curve. O D. the average variable cost curve.
Figure below shows the cost curves for a perfectly competitive firm. / A / Quantity This firm's short run supply curve is the section of the MC curve between points O A and D. EE TE FO B and D. S C and D. e B and C.
deriving the short-run supply curve.
consider the competitive market for sports jackets. The
following graph shows the marginal cost (MC), average total cost
(ATC) and average variable cost (AVC) curves for a typical firm in
the industry.
6. Deriving the short-run supply curve
Consider the competitive market for halogen lamps. The following
graph shows the marginal cost (MC), average total cost (ATC), and
average variable cost (AVC) curves for a typical firm in the
industry.
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. COSTS (Dollars) AVC МСП OHH 0 10 90 100 20 30 40 50 60 70 80 QUANTITY (Thousands of lamps) On the following graph, use the orange points (square symbol) to plot points along the portion of the firm's short-run supply curve...
The long-run supply curve for a perfectly competitive, constant-cost industry O is horizontal at minimum ATC. O is upward-sloping. O is horizontal at minimum AVC. O is found by adding up the marginal cost curves for all firms in the industry. As more firms enter the market: O the short-run market demand curve shifts to the left. O the short-run market supply curve shifts to the right. O the short-run market supply curve shifts to the left. O the short-run...
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