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1. The demand curve facing a price taker The following graph shows the daily market demand and supply curves. The equilibrium market price is $25
1. The demand curve facing a price taker The following graph shows the daily market demand and supply curves. The equilibrium market price is $25 per extra-large cardboard box. (?) 50 45 Supply 40 35 30 25 PRICE (Dollars per extra large box) 10 Demand 2 3 5 6 7 8 9 10 QUANTITY (Millions of extra-large boxes) Suppose Boxes R Us is one of over a hundred perfectly competitive firms that produce extra-large cardboard boxes for moving. On the following graph, use the green line (triangle symbols) to plot the demand curve facing Boxes R Us for extra-large cardboard boxes. Hint: Remember that perfectly competitive firms can sell all their output at the going price.(? 50 A 45 Demand 40 35 30 PRICE (Dollars per extra-large box) 25 20 15 10 2 3 4 5 6 7 8 9 10 QUANTITY (Thousands of extra-large boxes) In the following table, fill in the total and marginal revenues that Boxes R Us earns for the first three boxes it sells each day. Total Output Price Total Revenue Marginal Revenue Average Revenue Boxes) (Dollars per box) (Dollars) (Dollars per box) ( Dollars per box) 0 25 25 W N P 25 25The demand curve that Boxes R Us faces is identical to which of its other curves? Check all that apply. D Its marginal cost curve B Its marginal revenue curve B Its average revenue curve B Its total revenue curve B Its supply.r curve
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