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Using the numbers you found in the above table draw a graph depicting this firms demand curve, marginal cost curve, and average total cost curve.
- Using the numbers you found in the above table draw a graph depicting this firms demand curve, marginal cost curve, and average total cost curve. Be sure to clearly label the axes, profit maximizing price, and profit maximizing quantity. 1 point for each cor
| Q | P | FC | VC | AVC | TC | ATC | MC | TR | MR | Profit |
| 0 | $15.00 | $25.00 | 0 | N/A | $25.00 | N/A | N/A | 0 | N/A | -$25.00 |
| 1 | $15.00 | $25.00 | $5.00 | $5.00 | $30.00 | $30.00 | $5.00 | $15.00 | $15.00 | -$15.00 |
| 2 | $15.00 | $25.00 | $14.00 | $7.00 | $39.00 | $19.50 | $9.00 | $30.00 | $15.00 | -$9.00 |
| 3 | $15.00 | $25.00 | $25.00 | $8.33 | $50.00 | $16.67 | $11.00 | $45.00 | $15.00 | -$5.00 |
| 4 | $15.00 | $25.00 | $40.00 | $10.00 | $65.00 | $16.25 | $15.00 | $60.00 | $15.00 | -$5.00 |
| 5 | $15.00 | $25.00 | $60.00 | $12.00 | $85.00 | $17.00 | $20.00 | $75.00 | $15.00 | -$10.00 |
- rectly drawn curve (3 points total).
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Macroeconomics
Authors: Michael Parkin
10th Edition
013485330X, 978-0134853307
