Plot the firm average variable cost curve

Assignment Help Microeconomics

Reference no: EM131774595

Question: The accompanying table shows the variable cost that a perfectly competitive firm incurs at various levels of output.

Part 1: Plot this firm's average variable cost curve (label it AVC) using the multi-point line tool. Make sure to plot a point for each non-zero quantity listed in the table.

Part 2: Use a horizontal drop line to identify the shut-down price (label it PS). Make sure that the right endpoint of the drop line is placed on the AVC curve.

Part 3: Plot the firm's short-run individual supply curve (label it SRS) using the multi-point line tool. Plot every point on the supply curve that can be identified from the table. Hint: only plot points for non-zero quantities.

Units of Output	Variable Cost (VC)
0	$0
1	8
2	11
3	18
4	28
5	40
6	54

Reference no: EM131774595

Questions Cloud

Ability of a commercial bank to increase the money supply : The ability of a commercial bank to increase the money supply is limited by the willingness of customers to withdraw currency for circulation.

Prepare balance sheets for the business as of december : Prepare balance sheets for the business as of December 31, 2008, and 2009. Compare the 2009 year-end debt ratio for the business

Explain how knowledge of managerial accounting : Explain how knowledge of managerial accounting can assist a manager with regard to the following concerns:

Discuss everyday supplies internal control : Retail customers pay for merchandise by cash or credit card at cash registers when merchandise is purchased

Plot the firm average variable cost curve : Plot this firm's average variable cost curve (label it AVC) using the multi-point line tool. Make sure to plot a point for each non-zero quantity listed.

Cash flow statement represents : Can anyone propose what each section of our cash flow statement represents, debt or equity?

What the adjusted multiple used to calculate the exclusion : Perform the calculations and determine what amount he may exclude from gross income. What was the adjusted multiple used to calculate the exclusion

Management control systems : Upon completion of the Required Readings, write a thorough, well-planned narrative answer to the following discussion question. Rely on your Required Readings.

Social mores in the united states compared to vietnam : According to some reports, more than 40 percent of the American servicemen sent to Vietnam experimented with heroin. Of these, 57 percent became addicts.

User Account

All Pages