Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
johndoris johndoris
wrote...
Go to Answer
Posts: 140
Rep: 0 0
A year ago

The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market.
The graph on the right shows the current market conditions in this industry.

Short description: Two graphs labelled firm and industry. Long description: The first graph is titled, firm. The horizontal axis representing q ranges from 0 to 100, in increments of 20. The vertical axis representing dollars ranges from 0 to 8, in increments of 1. The graph shows two curves. The curve representing SMC passes through the following points: (10, 1), (30, 1.3), (40, 1.6), (50, 2.5), (60, 4), and (63, 5.3). The curve representing ATC passes through the following points: (10, 2.3), (20, 1.5), (30, 1.3), (40, 1.25), (50, 1.6), (60, 2), (70, 3), and (78.5, 4.5). The two curves intersect at (30, 1.3). The second graph is titled industry. The horizontal axis representing q ranges from 27000 to 54000, in increments of 27000. The vertical axis representing P ranges from 0 to 8, in increments of 1. The graph shows two lines. The increasing line representing S passes through the following points: (13500, 2), (27000, 4), and (46000, 7). The decreasing line representing D passes through the following points: (5000, 6.8), (27000, 4), and (50000, 1.3). The two lines intersect at (27000, 4). Note: all values are approximate.

FIGURE 9-7

Refer to Figure 9-7. Total cost at the profit-maximizing level of output is



▸ $240.

▸ $600.

▸ $120.

▸ $27 000.

▸ $2400.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 23 times
1 Reply
Replies
Answer verified by a subject expert
Quiera730Quiera730
wrote...
#1
Posts: 107
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

johndoris Author
wrote...

A year ago
Helped a lot
zbmallo3
wrote...

Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
terriroberts96
wrote...

2 hours ago
Thank you, thank you, thank you!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1320 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 695
  
 426
  
 338
Your Opinion
Which country would you like to visit for its food?
Votes: 204
Previous poll results: Do you trust social media networks with protecting your privacy?