Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 0 10 1 2 21 30 41 54 69 Use the data to draw Pat's supply curve. Pat's is a price taker. Draw a point to show the quantity of pizza supplied when the market price equals minimum average variable cost and Pat's continues to produce pizza. Draw a point to show the quantity of pizza supplied when the market price is $14 a pizza. Draw Pat's supply curve: Label the part at which Pat supplies zero pizza S and label the part at which Pat's supplies some pizza S₁. 16- 14- 12- 10- 8- 6- 4- 2 0- ° Price (dollars per pizza) Output (pizzas per hour) >>> Draw only the objects specified in the question.
Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 0 10 1 2 21 30 41 54 69 Use the data to draw Pat's supply curve. Pat's is a price taker. Draw a point to show the quantity of pizza supplied when the market price equals minimum average variable cost and Pat's continues to produce pizza. Draw a point to show the quantity of pizza supplied when the market price is $14 a pizza. Draw Pat's supply curve: Label the part at which Pat supplies zero pizza S and label the part at which Pat's supplies some pizza S₁. 16- 14- 12- 10- 8- 6- 4- 2 0- ° Price (dollars per pizza) Output (pizzas per hour) >>> Draw only the objects specified in the question.
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.1P
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Question
Please give me correct answer with full explanation and draw carefully
Note:-
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![Pat's Pizza Kitchen has the following total cost schedule.
Output
(pizzas per hour)
0
1
2
3
4
5
Total cost
(dollars per hour)
10
21
30
41
54
69
Use the data to draw Pat's supply curve. Pat's is a price taker.
Draw a point to show the quantity of pizza supplied when the market price equals minimum average variable cost and
Pat's continues to produce pizza.
Draw a point to show the quantity of pizza supplied when the market price is $14 a pizza.
Draw Pat's supply curve: Label the part at which Pat supplies zero pizza S, and label the part at which Pat's supplies
some pizza S₁.
16-
Price (dollars per pizza)
14-
12-
10-
8-
6-
4-
2-
0-
о
1
Output (pizzas per hour)
>>> Draw only the objects specified in the question.
✓](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6bb42264-21de-4b61-a4e2-4d251353da60%2F473a5ba9-7f2f-4000-aa94-fadf4b1c9797%2F15j7mga_processed.png&w=3840&q=75)
Transcribed Image Text:Pat's Pizza Kitchen has the following total cost schedule.
Output
(pizzas per hour)
0
1
2
3
4
5
Total cost
(dollars per hour)
10
21
30
41
54
69
Use the data to draw Pat's supply curve. Pat's is a price taker.
Draw a point to show the quantity of pizza supplied when the market price equals minimum average variable cost and
Pat's continues to produce pizza.
Draw a point to show the quantity of pizza supplied when the market price is $14 a pizza.
Draw Pat's supply curve: Label the part at which Pat supplies zero pizza S, and label the part at which Pat's supplies
some pizza S₁.
16-
Price (dollars per pizza)
14-
12-
10-
8-
6-
4-
2-
0-
о
1
Output (pizzas per hour)
>>> Draw only the objects specified in the question.
✓
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