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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