f -' tyiMV'D' X a: MindTaprCengageLearnlng X n Dashboard x l + ,m.1ahc.b/ui/evo/index h1ml?deploymentld: 598141289318441487830205888LelSBN2978035713357681snapshotld23328843&id=171 1466354& [5 CENGAGE ) MINDTAP Q Sea, Homework (Ch 14) For every price level given in the following table/ use the graph to determine the profitmaximizing quantity of lamps for the firm. Further, select Whether the Firm Will choose to produce, shut down, or be Indifferent between the two in the short run. (Assume that when price exactly equals average variable cost, the firm is inderent between producmg zero lamps and the profit-maximizing quantity of lamps.) Last/y, determine whether the firm Will earn a prot, incur a loss, or break even at each price Price Quantity (Dollars per lamp) (Lamps) Produce or Shut Down? Profit or Loss? 4 V v V 8 V v v 12 v 1" A? v 36 V v v 48 V V V 60 V "w Y On the fo'onrng graph use the orange points (square symbol) to plot points along the portion of the firm's short-run supply curve that corresponds to prices where there is posmve output. (Note: For the graphing tool to grade correctly, you must plot the points in order from left to right, starting With the ooznt crosesr to the origin. You are given more points to plot than you need.) ' 59F Mostly cloudy A '75 [:71 cy' X MindTap - Cengage Learning Dashboard + X rsity : PHY 105 X com/staticb/ui/evo/index.html?deploymentld=59814128931844148783020588&elSBN=9780357133576&snapshotld=3328843&id=1711466354& Q Sea CENGAGE | MINDTAP Homework (Ch 14) Attempts 0.2 Keep the Highest 0.2 / 4 6. Deriving the short-run supply curve The following graph plots the marginal cost (MC) curve, average total cost (ATC) curve, and average variable cost (AVC) curve for a firm operating in the competitive market for sun lamps. (? 8 COSTS (Dollars) N 00 MC 16 24 32 40 48 56 64 72 80 QUANTITY (Thousands of lamps) 59.F Mostly cloudy ~90 search Home End PgUp ER- X PrtScn F8 F9 F10 F11 F7 FA F6 F2 F3 A & O 4 5 8 9 P m R Y U Oby PHY 105 * MindTap - Cengage Learning X Dashboard m/staticb/ui/evo/index.html?deploymentld=59814128931844148783020588&elSBN=9780357133576&snapshotld=3328843&id=1711466354& Q Sea CENGAGE | MINDTAP Homework (Ch 14) right, starting with the point closest to the origin. You are given more points to plot than you need.) Next, place the black point (plus symbol) on the graph to indicate the short-run equilibrium price and quantity in this market. Note: Dashed drop lines will automatically extend to both axes. (?) 80 Demand 72 Industry's Short-Run Supply 64 56 Equilibrium 48 PRICE (Dollars per lamp) 72 144 216 288 360 432 504 576 648 720 QUANTITY (Thousands of lamps) At the current short-run market price, firms will_ in the short run. In the long run, Grade It Now Save & Continue Continue without saving 59.F Mostly cloudy ~ earch DI X PrtScn Home End PgUp F6 F7 FB F9 F10 F11 FZ F3 FA ES % A & O LO 4 5 8 E T Y U O Pya PHY 105 % MindTap - Cengage Learning m/staticb/ui/evo/index.html?deploymentld=59814128931844148783020588&elSBN=9780357133576&snapshotld=3328843&id=1711466354& Q Sea CENGAGE | MINDTAP Homework (Ch 14) 60 On the following graph, use the orange points (square symbol) to plot points along the portion of the firm's short-run supply curve that corresponds to prices where there is positive output. (Note: For the graphing tool to grade correctly, you must plot the points in order from left to right, starting with the point closest to the origin. You are given more points to plot than you need.) (?) 80 72 Firm's Short-Run Supply 8 PRICE (Dollars per lamp) N 00 O 8 16 24 32 40 48 56 64 72 80 QUANTITY (Thousands of lamps) Suppose there are 9 firms in this industry, each of which has the cost curves previously shown. 59.F Mostly cloudy arch PrtSen Home End PgUp X F11 F7 F8 F9 F10 F5 F6 A & K O 5 7 8 R T Y U O P m