This graph shows the cost curves and marginal revenue curves for a firm. MC Cost, $ 120 80 75 25 3 10 c. -135,000 d. 950,000 e. 400,000 D = MR ATC AVC Quantity in thousands 6. Based on the above graph, how much is this firm's profit in the long-run? a. $360,000 b. 450,000

This graph shows the cost curves and marginal revenue curves for a firm. MC Cost, $ 120 80 75 25 3 10 c. -135,000 d. 950,000 e. 400,000 D = MR ATC AVC Quantity in thousands 6. Based on the above graph, how much is this firm's profit in the long-run? a. $360,000 b. 450,000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 20RQ: What two lines on a cost curve diagram intersect at the zero-profit point?

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Question

Subject :- Economic

This graph shows the cost curves and marginal revenue curves for a firm.
MC
Cost, $
120
80
75
25
3
10
c. -135,000
d. 950,000
e. 400,000
D = MR
ATC
AVC
Quantity
in thousands
6. Based on the above graph, how much is this firm's profit in the long-run?
a. $360,000
b. 450,000

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