The following is a total cost curve 1000 900 Total cost (5) 800 700 600 500 400- 300- 200 100- D TC 650 100 150 200 250 300 350 Quantity (4) ROO On the diagram to the right, sketch the corresponding marginal cost curve Using the multipoint curved line drawing tool, draw the firm's marginal cost curve. Label this curve MC' Note: Use the multipoint curved line drawing tool one time to draw the entire curve the price of output is $4.00 and there are no fixed costs, what is the profit-maximizing level of output? The firm will maximize profits by producing units of output. (Enter your response as an integer) 10.00- 9.00- Marginal cost per unit (5) 8.30 7.00 6.00- 5.00 4.00- 3.00 2.00- 1.00 0.00- 0 50 100 150 200 Quantity (q) G 300 350 After plotting the final point of your multipoint curve, press the Esc key on ye to end your curve
The following is a total cost curve 1000 900 Total cost (5) 800 700 600 500 400- 300- 200 100- D TC 650 100 150 200 250 300 350 Quantity (4) ROO On the diagram to the right, sketch the corresponding marginal cost curve Using the multipoint curved line drawing tool, draw the firm's marginal cost curve. Label this curve MC' Note: Use the multipoint curved line drawing tool one time to draw the entire curve the price of output is $4.00 and there are no fixed costs, what is the profit-maximizing level of output? The firm will maximize profits by producing units of output. (Enter your response as an integer) 10.00- 9.00- Marginal cost per unit (5) 8.30 7.00 6.00- 5.00 4.00- 3.00 2.00- 1.00 0.00- 0 50 100 150 200 Quantity (q) G 300 350 After plotting the final point of your multipoint curve, press the Esc key on ye to end your curve
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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