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 92 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
Gracias!

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

The relationship between air temperature and two measures of water vapour saturation of air. The relationship between air temperature and two measures of water vapour saturation of air.
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Ebbinghaus’s forgetting curve Ebbinghaus’s forgetting curve
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
The relationship between acid–base imbalances and potassium imbalances The relationship between acid–base imbalances and potassium imbalances
Video: Eczema

For a complete list of videos, visit our video library