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The demand curve facing a competitive firm The following graph shows the daily market for extra-large cardboard boxes in San Francisco.   Suppose that Vesoro is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Vesoro must take as given is   .   Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars per box) 0   0   –   1         2         3           The demand curve that Vesoro faces is identical to which of its other curves? Check all that apply. Average revenue curve   Marginal revenue curve   Supply curve

The demand curve facing a competitive firm The following graph shows the daily market for extra-large cardboard boxes in San Francisco.   Suppose that Vesoro is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Vesoro must take as given is   .   Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars per box) 0   0   –   1         2         3           The demand curve that Vesoro faces is identical to which of its other curves? Check all that apply. Average revenue curve   Marginal revenue curve   Supply curve

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 2SCQ: Continuing with the scenario in question 1, in the long run, the positive economic profits that the...
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2. The demand curve facing a competitive firm

The following graph shows the daily market for extra-large cardboard boxes in San Francisco.
 
Suppose that Vesoro is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes.
Based on the preceding graph showing the daily market demand and supply curves, the price Vesoro must take as given is
 
.
 
Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day.
Quantity
Price
Total Revenue
Marginal Revenue
Average Revenue
(Boxes)
(Dollars per box)
(Dollars)
(Dollars)
(Dollars per box)
0
 
 0   –
 
1
 
 
 
 
2
 
 
 
 
3
 
 
 
 
 
The demand curve that Vesoro faces is identical to which of its other curves? Check all that apply.
Average revenue curve
 
Marginal revenue curve
 
Supply curve
 
Marginal cost curve
Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars per box) 2 The demand curve that Vesoro faces is identical to which of its other curves? Check all that apply. O Average revenue curve Marginal revenue curve O supply curve O Marginal cost curve
Transcribed Image Text:Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars per box) 2 The demand curve that Vesoro faces is identical to which of its other curves? Check all that apply. O Average revenue curve Marginal revenue curve O supply curve O Marginal cost curve
2. The demand curve facing a competitive firm The following graph shows the daily market for extra-large cardboard boxes in San Francisco. 50 Supply 45 40 Demand 35 30 25 20 15 10 5 1 2 3 4 5 6 7 B 10 QUANTITY (Millions of extra-large boxes) Suppose that Vesoro is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Vesoro must take as given is S PRICE (Dollars per extra-large box)
Transcribed Image Text:2. The demand curve facing a competitive firm The following graph shows the daily market for extra-large cardboard boxes in San Francisco. 50 Supply 45 40 Demand 35 30 25 20 15 10 5 1 2 3 4 5 6 7 B 10 QUANTITY (Millions of extra-large boxes) Suppose that Vesoro is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Vesoro must take as given is S PRICE (Dollars per extra-large box)
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