The accompanying graph depicts the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Move point A to identify the profit maximizing price and quantity for this firm. Price and Cost 298765432 20 19 18 17 16 15 14 13 12 11 10 0987 65 43210 MR-D A Perfectly Competitive Firm A MC ATC 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Quantity

$150 $145 $140 MC $135 $130 $125 $120 $115 ATC $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 1 2 3 5 6 Quantity Produced 7 8 9 10 11 The graph above shows the cost functions for a perfectly competitive profit maximizing firm. If the market price of the product is $70 per unit, the firm will produce units, will cover make an economic profit of dollars. dollars of its fixed cost, and will

please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 10.2 Price 50 35 30 20 10 $450 $700 10 $500 15 MC 20 MR AVC Refer to Figure 10.2. Compute the profit earned by the firm at the profit-maximizing level of output. $300 ATC Quantity

Use the figure below to answer the following questions. Price and cost (dollars per unit) 100 90 85 80 70 55 40 0 MR₂ MC ATC La MR₁ 100 140 200 220 250 Quantity (units per week) Figure 13.2.3 Refer to Figure 13.2.3. Assume this firm faces demand curve D2. If the firm produces the efficient quantity, it makes zero economic profit. makes an economic profit. will face competition from new firms entering the industry. is in a long-run equilibrium. incurs an economic loss.

Question 1 Price $ 15 Quantity 6. 15 In the above table, if the quantity sold by the firm rises from 5 to 6, its marginal revenue is O $ 15 $ 30 $ 35 $ 40 555

Figure 15-1 Suppose that a firm in a competitive market has the following cost curves: PRICE 222 222 222 40 36 32 28 26 24 20 16 12 8 400 MC O less than $12. 1 O above $12 but less than $26. O above $26 but less than $40. O above $26. 2 3 QUANTITY 4 ATC Refer to Figure 15-1. The firm should shut down if the market price is AVC 5

How can I describe the equilibrium situation of the firm operating in the perfectly competitive market and the firm operating in the monopoly market by drawing graphics, and at the same time, how can I explain the cost, revenue and demand structures with graphics? b210801021@subu.edu.tr You can send a reply to this address. If it can be in Turkish, I would be happy, but if it is not, it is not a problem.

20 12 10 0 MC ATC -MR 10 Quantity (units) Figure 11.4.1 Refer to Figure 11.4.1, which shows the cost curves and marginal revenue curve of a firm in a perfectly competitive market. In the long run, market O supply will decrease. demand will decrease. O supply and market demand will decrease. supply will increase. O demand will increase.

Use the following diagram to answer this question. This firm will have a profit per unit of Price 9.50 10 8 6.50 - 5 O $1.50 O $3.00 $4.50 $5.00 7,000+ 8,000 MR 10,000 MC ATC AVC AR-D Quantity of Widgets