Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost (MC) curvethat lies above the average variable cost curve. Show and explain clearly shut-down and break-even points on your diagram.
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Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost (MC) curvethat lies above the average variable cost curve. Show and explain clearly shut-down and break-even points on your diagram.
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- Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost (MC) curvethat lies above the average variable cost (AVC) curve using a diagram. Show and explain clearly shut-down points and break-even points on your diagram. Explain your reasoning in detail.Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost (MC) curvethat lies above the average variable cost curve?Hi. I'm a little confused on how the short run supply curve of a price taking firm is determined. Do i use the marginal costs and the average variable cost curves and use the diagram for that to find the short run supply curve
- “That segment of a competitive firm’s marginal-cost curve that lies above its average-variable-cost curve constitutes the shortrun supply curve for the firm.” Explain using a graph and words.For a burger seller Marginal, average variable and average total cost curves are attached below: 1. what is profit maximizing level of output and profit of this firm if the price of burger is $3.50? 2. Below what price will this firm shut down in the short run? 3. If the price was $4.50 ehat would be the firm's profit?Describe how we can identify a competitive firm’s short-run supply curve.
- The short-run supply curve for a price-taking firm is given by: Select one: a. its short-run marginal cost curve above average fixed cost b. its entire short-run marginal cost curve c. its short-run marginal cost curve above minimum average total cost d. its short-run marginal cost curve above minimum average variable cost e. the positively sloped portion of its average cost curve“If Conagra is a competitive firm, it will never operate at an output where its average total cost curve is downward sloping.” True or false? Explain. I think it's false, but I don't know why thoughThe graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for a firm in a competitive market. These curves imply a short-run supply curve that has two distinct parts. One part, not shown, lies along the vertical axis (quantity-0); this represents a condition of production shutdown. Where is the other part? Use the straight-line tool to drawit. To refer to the graphing tutorial for this question type, please click here Price and cost 18 15 14 13 12 10 19/21 SUBMIT ANSWER 13 OF 21 QUESTIONS C OMPLETED 28 MacBook Pro 금□ F7 F8 F9 F1o F2 F3 F5
- The graph shows the average total cost (ATC) curve, the marginal cost (MC) curve, the average variable cost (AVC) curve, and the marginal revenue (MR) curve (which is also the market price) for a perfectly competitive firm that prođuces stuffed animals. Answer the three accompanying questions, MC ATC $320 $300- AVC assuming that the firm is profit-maximizing and does not shut $200 down in the short run. MR-P SI50 What is the firm's total revenue? 205 260 336 365 Quantity 78000 What is the firm's total cost? 126100 What is the firm's profit? (Enter a negative number for a loss.) 48100 PriceIllustrate and explain how the short-run supply curve of a price-taking firm is determined.Basti’s Coffee operates in a competitive market. The short run price in the coffee market is equal toBasti’s Coffee average variable cost. Using two correctly labeled graphs show the coffee market side by side with Basti’s Coffee. Show the long run adjustments in eachof the following:price and quantity in the coffee market ii. price and quantity for Basti’s Coffee