2. The demand curve facing a competitive firm Falero is one of more than a hundred competitive firms in San Diego that produce small cardboard boxes for moving. The following graph shows the daily market demand and supply curves. 10 Demand Supply 2 0 1 2 3 4 5 6 8 9 10 QUANTITY (Millions of small boxes) On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's small cardboard boxes. PRICE (Dollars per small box)

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
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Chapter14: Monopoly
Section: Chapter Questions
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2. The demand curve facing a competitive firm
Falero is one of more than a hundred competitive firms in San Diego that produce small cardboard boxes for moving. The following graph shows the
daily market demand and supply curves.
10
Demand
Supply
7
1
2 3 4 5 6 7
8
9
10
QUANTITY (Millions of small boxes)
On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's small cardboard boxes.
PRICE (Dollars per small box)
Transcribed Image Text:2. The demand curve facing a competitive firm Falero is one of more than a hundred competitive firms in San Diego that produce small cardboard boxes for moving. The following graph shows the daily market demand and supply curves. 10 Demand Supply 7 1 2 3 4 5 6 7 8 9 10 QUANTITY (Millions of small boxes) On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's small cardboard boxes. PRICE (Dollars per small box)
On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's small cardboard boxes.
10
Demand
7
6
2
1
1
2
3 4
6
7
10
QUANTITY (Thousands of small boxes)
Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day.
Quantity
Price
Total Revenue
Marginal Revenue
Average Revenue
(Вохes)
(Dollars per box) (Dollars)
(Dollars)
(Dollars per box)
2
3
The demand curve that Falero faces is identical to which of its other curves? Check all that apply.
O Supply curve
Average revenue curve
Marginal cost curve
O Marginal revenue curve
PRICE (Dollars per small box)
Transcribed Image Text:On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's small cardboard boxes. 10 Demand 7 6 2 1 1 2 3 4 6 7 10 QUANTITY (Thousands of small boxes) Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Вохes) (Dollars per box) (Dollars) (Dollars) (Dollars per box) 2 3 The demand curve that Falero faces is identical to which of its other curves? Check all that apply. O Supply curve Average revenue curve Marginal cost curve O Marginal revenue curve PRICE (Dollars per small box)
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