Biology Forums - Study Force

Other Fields Homework Help Economics Topic started by: saratoga 22 on Oct 3, 2022


Title: FIGURE 9-1Refer to Figure 9-1. The diagram shows cost curves for a perfectly competitive firm. If ...
Post by: saratoga 22 on Oct 3, 2022


Short description: A graph plots quantity against price in dollars. Long description: The horizontal axis representing quantity lists A to I from left to right. The vertical axis representing price in dollars lists the following values from bottom to top: P subscript 1, P subscript 2, P subscript 3, P subscript 4, and P subscript 5. The graph plots three curves and five lines. The curve, MC passes through the points, (D, P subscript 1), (E, P subscript 2), (F, P subscript 3), (G, P subscript 4), and (H, P subscript 5). The curve, SRATC passes through the points, (C, P subscript 4), (F, P subscript 3), and (I, P subscript 5). The curve, SRAVC passes through the points, (A, P subscript 3), (B, P subscript 2), (D, P subscript 1), (F, P subscript 2), and (I, P subscript 3). Five horizontal lines are drawn from P subscript 1, P subscript 2, P subscript 3, P subscript 4, and P subscript 5.

FIGURE 9-1

Refer to Figure 9-1. The diagram shows cost curves for a perfectly competitive firm. If the market price is P1, the profit-maximizing firm in the short run should



▸ produce output A.

▸ produce output B.

▸ produce output C.

▸ produce output D or shut down as it doesn't really matter which.

▸ definitely shut down.

Title: FIGURE 9-1Refer to Figure 9-1. The diagram shows cost curves for a perfectly competitive firm. If ...
Post by: 9quatroquatro9 on Oct 3, 2022
Content hidden


Powered by SMF | SMF © 2015, Simple Machines