Graph 14-6
In this graph, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms. Use the graph to answer the following question(s).
-Refer to Graph 14-6. If there are 40 identical firms in this market, what level of output will be supplied to the market when the price is $2.00?

Question

Graph 14-6
  In this graph, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms. Use the graph to answer the following question(s).
-Refer to Graph 14-6. If there are 40 identical firms in this market, what level of output will be supplied to the market when the price is $2.00?

Quizplus · Accepted Answer

The Answer of Graph 14-6
  In this graph, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms. Use the graph to answer the following question(s).
-Refer to Graph 14-6. If there are 40 identical firms in this market, what level of output will be supplied to the market when the price is $2.00?