Question list K The market for vases is perfectly competitive. The market Total revenue (dollars per day) price of a vase is $30. 240- Draw one firm's total revenue curve. Begin the curve at the origin and label it. 200- Question 13 160- . . . When the firm shown in the graph increases the number of 120- O Question 14 vases it produces from 4 to 5, what is its marginal revenue? Its marginal revenue is $. 80- O Question 15 40- O Question 16 10 Quantity (vases per day) >> Draw only the objects specified in the question. O Question 17 O Question 18 O Question 19Question list K The top table shows the market demand schedule in New York City for bicycle rentals and the bottom table shows Rental price Quantity demanded the cost structure of each firm. (dollars per hour) (bicycles per hour) 8.00 30,000 The bicycle rental market is perfectly competitive and all 8.50 25,500 O Question 18 firms have identical costs. 9.00 20,000 In the long run, what is the market price of a bicycle rental 9.50 15,000 and what is the number of firms in the industry? 10.00 10,000 O Question 19 . . . Marginal Average total Quantity cost cost O Question 20 In the long run, the market price of a bicycle rental is (bicycles per hour) (dollars per hour) an hour and the number of firms in the industry is 50 8.50 12.25 100 9.00 10.50 O A. $8.50: 150 150 9.50 10.08 O Question 21 200 10.00 10.00 O B. $10.00; 50 250 10.50 10.05 O C. $9.50; 100 O Question 22 O D. $10.00; 200 O Question 23The table gives the total product schedule for Flora's Flower Question list K Shoppe. Labor Output (workers) (bouquets per hour) Question 21 If Flora's increases the number of workers she hires from 2 0 0 to 3, what is her marginal product? 50 If Flora's increases the number of workers she hires from 3 120 UI AWN- O Question 22 to 4, what is her marginal product? 190 230 150 O Question 23 If Flora's increases the number of workers she hires from 2 to 3, marginal product is bouquets. If Flora's increases the number of workers she hires from 3 O Question 24 to 4, marginal product is bouquets. O A. 70; 40 O Question 25 O B. 190; 230 O C. 50; 70 O D. 70; 70 O Question 26 O Question 27 O Question 28 O Question 29 O Question 30