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Figure 11-3 Figure 11-3 Shows Short-Run Cost and Demand

Question 32

Multiple Choice

Figure 11-3 Figure 11-3 Figure 11-3 shows short-run cost and demand curves for a monopolistically competitive firm in the market for designer watches. -Refer to Figure 11-3.What is the area that represents the total variable cost of production? A) 0P<sub>0</sub>aQ<sub>a</sub> B) 0P<sub>1</sub>bQ<sub>a</sub> C) P<sub>0</sub>abP<sub>1</sub> D) P<sub>1</sub>bdP<sub>3</sub> Figure 11-3 shows short-run cost and demand curves for a monopolistically competitive firm in the market for designer watches.
-Refer to Figure 11-3.What is the area that represents the total variable cost of production?


A) 0P0aQa
B) 0P1bQa
C) P0abP1
D) P1bdP3

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