2. The demand curve facing a competitive firm The following graph shows the daily market for large cardboard boxes in San Francisco. Attached the graph Ch 14 Homework Q2 Suppose that Falero is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is $ ________. Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars 0 ? 0 – ? 1 ? ? ? ? 2 ? ? ? ? 3 ? ? ? The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal revenue curve Average revenue curve Supply curve Marginal cost curve
2. The demand curve facing a competitive firm The following graph shows the daily market for large cardboard boxes in San Francisco. Attached the graph Ch 14 Homework Q2 Suppose that Falero is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is $ ________. Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. Quantity Price Total Revenue Marginal Revenue Average Revenue (Boxes) (Dollars per box) (Dollars) (Dollars) (Dollars 0 ? 0 – ? 1 ? ? ? ? 2 ? ? ? ? 3 ? ? ? The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal revenue curve Average revenue curve Supply curve Marginal cost curve
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
2. The demand curve facing a competitive firm
The following graph shows the daily market for large cardboard boxes in San Francisco.
Attached the graph Ch 14 Homework Q2
Suppose that Falero is one of more than a hundred competitive firms in San Francisco that produce such cardboard boxes.
Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is $ ________.
Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day.
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Quantity
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Price
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Total Revenue
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Marginal Revenue
|
Average Revenue
|
|---|---|---|---|---|
|
(Boxes)
|
(Dollars per box)
|
(Dollars)
|
(Dollars)
|
(Dollars
|
| 0 |
?
|
0 | – | |
|
|
? | |||
| 1 |
?
|
?
|
? | |
|
|
? | |||
| 2 |
?
|
?
|
|
? |
|
|
? | |||
| 3 |
?
|
?
|
|
? |
The demand curve that Falero faces is identical to which of its other curves? Check all that apply.
- Marginal revenue curve
- Average revenue curve
- Supply curve
- Marginal cost curve
Transcribed Image Text:40
36
Supply
32
Demand
28
16
12
4
1
2
3
4
5
6 7 8
9
10
QUANTITY (Millions of large boxes)
24
20
Co
PRICE (Dollars per large box)
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