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The following problem traces the relationship between firm decisions, market supply, and market equilibrium in a perfectly competitive market. Complete the table below for a
The following problem traces the relationship between firm decisions, market supply, and market equilibrium in a perfectly competitive market. Complete the table below for a single firm in the short run. Use the data in the following popup table: Suppose there are 100 firms in this industry, all with identical cost schedules. In the table below, fill in the market quantity supplied at each price in this market. (Enter your responses as integers.) Market Quantity Market Quantity Price Supplied Demanded $0 1,300 15 1,200 30 1,100 44 1,000 59 900 74 800 85 700 99 600 - X Data table TFC TVC TC AVC ATC MC $40 $0 $40 40 125 165 125.00 165.00 125 40 167 207 83.50 103.50 42 40 195 235 65.00 78.33 28 40 209 249 52.25 62.25 14 40 237 277 47.40 55.40 28 40 279 319 46.50 53.17 42 40 335 375 47.86 53.57 56 40 405 445 50.63 55.63 70 40 489 529 54.33 58.78 84 587 627 58.70 62.70 98 Print Done
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