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 90 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
Wow, this really help

carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

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.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

The Relationship Between Religion and Spirituality The Relationship Between Religion and Spirituality
supply chain supply chain
Relationship between psychosocial adaptation Relationship between psychosocial adaptation
How to find the equation of a cosine curve How to find the equation of a cosine curve
How to find the average value of a function How to find the average value of a function
The Radioactive Decay Curve The Radioactive Decay Curve
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library