Top Posters
Since Sunday
17
s
5
j
4
s
4
C
3
W
3
a
3
H
3
s
3
a
3
o
3
K
3
New Topic  
Neurosciencie Neurosciencie
wrote...
Posts: 75
Rep: 0 0
5 months ago

The diagram below shows the market demand curve and the cost curves for a single firm.

Short description: A graph plots output against price. Long description: The horizontal axis representing output lists the following values from left to right: Q subscript 1 and Q subscript 2. The vertical axis representing dollars lists the following values from bottom to top: P subscript 1, P subscript 2, and P subscript 3. The graph plots three curves and five points. The points are as follows: a (Q subscript 1, P subscript 3), b (Q subscript 2, P subscript 2), c (Q subscript 2, P subscript 1), d (Q subscript 1, P subscript 2), and e (Q subscript 1, P subscript 1). The curve, LRAC passes through the following points: a and b. The curve, MC passes through the point, c. The curve, D passes through the following points: a and c. Curve, D intersects the curves, LRAC and MC at points, a and c.

FIGURE 12-7

Refer to Figure 12-7. Suppose this firm is being regulated using the policy of marginal-cost pricing. The resulting price and output would be



▸ P1 and Q1.

▸ P2 and Q2.

▸ P1 and Q2.

▸ P3 and Q2.

▸ P3 and Q1.
Textbook 

Microeconomics


Edition: 17th
Author:
Read 10 times
1 Reply
Replies
Answer verified by a subject expert
kimtrankimtran
wrote...
Posts: 69
Rep: 1 0
5 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
P1 and Q2.

1

Related Topics

Neurosciencie Author
wrote...

5 months ago
this is exactly what I needed
wrote...

Yesterday
Brilliant
wrote...

2 hours ago
Just got PERFECT on my quiz
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  241 People Browsing
 300 Signed Up Today
Related Images
  
 864
  
 207
  
 46
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 172

Previous poll results: Do you believe in global warming?