This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the relationship between a firm's supply curve, its marginal cost curve, and its average ... (Read 58 times)

abarnes

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
What is the relationship between a firm's supply curve, its marginal cost curve, and its average variable cost curve?
 
  What will be an ideal response?

Question 2

Refer to Figure 3-4. At a price of 25, how many units will be supplied?
 
  A) 400 B) 500 C) 600 D) 800


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ladyjames123

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

The firm will produce output as long as the price is greater than the minimum AVC. It will choose the level of output where MC = P, which means the firm's supply curve is the firm's MC curve above minimum AVC and along the vertical axis, producing zero, below the minimum AVC.

Answer to Question 2

D


abarnes

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
:D TYSM

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater
Relationship between a diagnostic label and related factor Relationship between a diagnostic label and related factor
How to create a sine equation when the curve is given How to create a sine equation when the curve is given
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Who Oversees the Food Supply? Who Oversees the Food Supply?
The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library