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Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 10 1 21 30 3 41 4 54 5 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 S,.

Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 10 1 21 30 3 41 4 54 5 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 S,.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
​Pat's Pizza Kitchen has the following total cost schedule.
  
Output
​(pizzas per​ hour)
Total cost
​(dollars per​ hour)
0
10
1
21
2
30
3
41
4
54
5
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
S0
and label the part at which​ Pat's supplies some pizza
S1.
12.2 Study Plan Problem 4 Price (dollars per pizza) 16- Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 14- 10 1 21 2 30 12- 3 41 4 54 10- 69 8- 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. 6- 4- 2- 04 1 2 4 Output (pizzas per hour) >>> Draw only the objects specified in the question.
Transcribed Image Text:12.2 Study Plan Problem 4 Price (dollars per pizza) 16- Pat's Pizza Kitchen has the following total cost schedule. Output (pizzas per hour) Total cost (dollars per hour) 14- 10 1 21 2 30 12- 3 41 4 54 10- 69 8- 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. 6- 4- 2- 04 1 2 4 Output (pizzas per hour) >>> Draw only the objects specified in the question.
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