Please help with part c and e The following graph shows the average and marginal cost curves for Kandi Keynes, a perfectly competitive firm.ATCAVC250MCTools225200MR1MR2175150MR3125100755025369 12 15 18 21 24 27 30 33 36 39 42Output per perioda. If the price is $150, draw in the marginal revenue curve, and label it MR1. Plot only the end points on the graph above.b. At this price, what are the break-even output(s), the profit-maximizing output, and the level of total profits at that output?Break-even output(s):and30profit-maximizing output:for a total profit of $c. Draw a marginal revenue curve, labelled MR2, which ensures that, at best, the firm breaks even. Plot only the end points on thegraph above.d. What is the corresponding break-even price?Break-even price: $e. Draw a marginal revenue curve, labelled MR3. which ensures that, at best, the firm just remains in operation. Plot only the end pointson the graph above.f. What is the corresponding shutdown price?Shutdown price: $Price/costs

Firm breaks even when price is equal to average total cost. Shutdown rule states that when the price…

The following graph shows the average and marginal cost curves for Kandi Keynes, a perfectly competitive firm. ATC AVC 250 MC Tools 225 200 MR1 MR2 175 150 MR3 125 100 75 50 25 369 12 15 18 21 24 27 30 33 36 39 42 Output per period a. If the price is $150, draw in the marginal revenue curve, and label it MR1. Plot only the end points on the graph above. b. At this price, what are the break-even output(s), the profit-maximizing output, and the level of total profits at that output? Break-even output(s): and profit-maximizing output: [ ] for a total profit of $| c. Draw a marginal revenue curve, labelled MR2, which ensures that, at best, the firm breaks even. Plot only the end points on the graph above. d. What is the corresponding break-even price? Break-even price: $[ e. Draw a marginal revenue curve, labelled MR3, which ensures that, at best, the firm just remains in operation. Plot only the end points on the graph above. f. What is the corresponding shutdown price? Shutdown price: $ Price/costs

The following graph shows the average and marginal cost curves for Kandi Keynes, a perfectly competitive firm. ATC AVC 250 MC Tools 225 200 MR1 MR2 175 150 MR3 125 100 75 50 25 369 12 15 18 21 24 27 30 33 36 39 42 Output per period a. If the price is $150, draw in the marginal revenue curve, and label it MR1. Plot only the end points on the graph above. b. At this price, what are the break-even output(s), the profit-maximizing output, and the level of total profits at that output? Break-even output(s): and profit-maximizing output: [ ] for a total profit of $| c. Draw a marginal revenue curve, labelled MR2, which ensures that, at best, the firm breaks even. Plot only the end points on the graph above. d. What is the corresponding break-even price? Break-even price: $[ e. Draw a marginal revenue curve, labelled MR3, which ensures that, at best, the firm just remains in operation. Plot only the end points on the graph above. f. What is the corresponding shutdown price? Shutdown price: $ Price/costs

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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