Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

all information is provided, I sent two versions of the same question so you can see what you need to graph a) Plot the equilibrium

all information is provided, I sent two versions of the same question so you can see what you need to graph

image text in transcribedimage text in transcribed
a) Plot the equilibrium point in the graph below. . Equilibrium 1(1.5,100) 90 ATC 75-MR D MC Price, Cost ($/Q) 45- 30- 15- 3 5 Reset Units of Output b) Mark the area for total economic profit in the graph above. c) In the following graph, drag the demand line (D) so that it is consistent with zero economic profits. . Demand 90 LATC 75- 09 D MO Price, Cost ($/Q) 45- 30 MR 154 3 5 6 Reset Units of Output d) Drag the marginal revenue line (MR) so that it is also consistent with zero economic profits. e) Plot the new equilibrium point.a} Plot the equilibrium point in the graph below. - Emilbr'um l 11" if; '\"d .h. i ll _I. ll Units of output b] Marl: the area for total economic prot in the graph above. c} In the following graph, drag the demand line {D} so that it is consistent will": zero economic prots. - Demand Demand H. -iral Rover-re Equilibrium Frrce. Cost EEO] . I . _ \"\"\"S'mm E d] Drag the marginal revenue line [MR}so that it is also consistent with zero economic prots. I-r- e} Plot the new equilibrium point

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Reimagining Capitalism In A World On Fire

Authors: Rebecca Henderson

1st Edition

1541730151, 9781541730151

More Books

Students also viewed these Economics questions

Question

Does the person have her/his vita posted?

Answered: 1 week ago

Question

=+3. Explain the interactions in the TV market!

Answered: 1 week ago

Question

=+1. Of what is the value chain in the music industry composed?

Answered: 1 week ago

Question

=+2. Explain the manufacturing model of radio management!

Answered: 1 week ago