ECONOMICS 102 Curves, Graph Estimation IF U CAN'T SOLVE THIS IN 30 MINUTES... PLEASE DON't DO IT I DONT NEED EXPLANATION I DONT NEED EXPLANATION I DONT NEED EXPLANATION 38

Assume that all firms in this industry have identical cost curves and that the market is perfectly competitive. Entire Market Single Representative Firm 25 MC 20 ATC 15 Price ($/unit) AVC 10 200 250 300 350 400 450 10 15 20 25 30 35 40 45 50 Quantity (Number of Units) Quantity (Number of Units) In the long run, there will be firms in this market. Select one: O a. 25 O b. 15 O c. 50 O d. 10The accompanying figure shows the supply and demand curves for jeans in Smallville. 80 70 60 50 Price ($/pair) 0 4 8 12 16 20 24 28 32 Quantity (pairs/day) At the price of $60 per pair, sellers offer _ pairs of jeans per day, and buyers wish to purchase _ pairs of jeans a day. Select one: O a. 24; 8 O b. 8; 24 O c. 16; 16 O d. 60; 20College Credit Credit Transfer My Line Help Center Live Chat (877) 787-8375 Output, It Will ealll a LOT 35 MC ATC 30 P1 27 Z AVC 25 20 Cost ($) P2 P3 5 10 20 30 4045 50 60 70 80 90 100 110 Quantity Select one: O a. profit, $180 O b. loss, $60 O c. loss, $900 O d. loss, $300Refer to the accompanying figure. When this market is in equilibrium, total producer surplus in the market is per day. 60 50 S 40 Price ($/restaurant meal) D 5 10 15 20 25 30 35 40 45 50 Quantity (restaurant meals/day) Select one: O a. $500 O b. $250 O c. $375 O d. $0The accompanying graph shows the cost curves for Mei's mushroom gathering business, which is perfectly competitive. 60 A 50 40 B Price ($/bushel) C 10 0 10 20 30 40 50 60 70 80 Quantity (bushels/month) If mushrooms sell for $40 per bushel, and Mei chooses the profit-maximizing quantity, she will Select one: O a. earn positive profit. O b. earn zero profit. O c. shut down. O d. earn negative profit (a loss).The accompanying graph shows the cost curves for Mei's mushroom gathering business, which is perfectly competitive. 60 A 50 40 B Price ($/bushel) C 10 0 10 20 30 40 50 60 70 80 Quantity (bushels/month) If mushrooms sell for $10 per bushel, and Mei chooses the profit-maximizing quantity, she will gather Select one: O a. 50 bushels. O b. 20 bushels. O c. 30 bushels. O d. zero bushels.Refer to the accompanying figure. The total utility of consuming two pizzas a week is 105- 100 90 75- Total Utility 55- 30- N 3 5 6 Quantity (pizzas/week) Select one: O a. 25. O b. 55. O c. 30. O d. 75.Jasmine divides her time between studying physics and studying economics. Her production possibilities curve for her final grade in each class is shown in the accompanying figure. 109 College Credit Credit Transfer My Line Help Center Live Chat (877) 787-8375 50 Physics Gr 40 D 30 20 10 E 10 20 30 50 60 70 80 90 100 Economics Grade Jasmine needs to earn at least an 80 in both economics and physics to keep her scholarship. Given her current PPC, an 80 in both classes is Select one: O a. efficient O b. attainable O c. inefficient O d. unattainable