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Question 1

The graph below shows cost curves for a firm operating in a perfectly competitive market.

Graphs with window x: 0 to 8, y: 0 to 27. Start Graph, Color black
xy
023.66
123.66
223.66
323.66
423.66
523.66
623.66
723.66
823.66
Start Graph, Color blue
xy
017
114
213
314
417
522
629
738
Start Graph, Color red
xy
017
112
213
320
433
Start Graph, Color green
xy
131
221.5
319.67
421.25
525.4
631.83
740.43
Label "Quantity of Jackets" at pixel coordinates (175,0).Label "Price of Jackets" at pixel coordinates (0,170).

Suppose that the equilibrium price is $23.66 (black line). This firm is earning

 

Hint


Question 2

The graph below shows cost curves for a firm operating in a perfectly competitive market.

Graphs with window x: 0 to 8, y: 0 to 21. Start Graph, Color black
xy
09.56
19.56
29.56
39.56
49.56
59.56
69.56
79.56
89.56
Start Graph, Color blue
xy
011
18
27
38
411
516
623
732
Start Graph, Color red
xy
011
16
27
314
427
Start Graph, Color green
xy
119
212.5
311.67
413.75
518.2
624.83
Label "Quantity of Pineapples" at pixel coordinates (175,0).Label "Price of Pineapples" at pixel coordinates (0,170).

Suppose that the equilibrium price is $9.56 (black line). This firm is earning

 

Hint


Question 3

The graph below shows cost curves for a firm operating in a perfectly competitive market.

Graphs with window x: 0 to 8, y: 0 to 28. Start Graph, Color black
xy
021
121
221
321
421
521
621
721
821
Start Graph, Color blue
xy
018
115
214
315
418
523
630
739
Start Graph, Color red
xy
018
113
214
321
434
Start Graph, Color green
xy
133
223
321
422.5
526.6
633
741.57
Label "Quantity of Apples" at pixel coordinates (175,0).Label "Price of Apples" at pixel coordinates (0,170).

Suppose that the equilibrium price is $21 (black line). This firm is earning

 

Hint


Question 4

The graph below shows cost curves for a firm operating in a perfectly competitive market.

Graphs with window x: 0 to 8, y: 0 to 20. Start Graph, Color black
xy
022
122
222
322
422
522
622
722
822
Start Graph, Color blue
xy
010
17
26
37
410
515
622
Start Graph, Color red
xy
010
15
26
313
426
Start Graph, Color green
xy
117
211
310.33
412.5
517
623.67
Label "Quantity of Apples" at pixel coordinates (175,0).Label "Price of Apples" at pixel coordinates (0,170).

Suppose that the equilibrium price is $22 (black line). This firm is earning

 

Hint