Please give me correct answer with carefully draw and full explanation and calculation otherwise i give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The following table contains output and marginal cost data for points above minimum average variable for a typicalfirm in a perfectly competitive industry.Output5678910MC3456 0078Using the line drawing tool and the data above, draw 3 industry supply curves assuming there are 10, 15 and 20firms. Label these lines S₁, S₂ and S3, respectively.Carefully follow the instructions above, and only draw the required objects.~Price ($)10-9.8-76-43-2-1.0-02550 75 100 125 150Output (units per day)175 200▶

A perfectly competitive firm is a price taker, which implies the price in the perfectly competitive…

Answered: The following table contains output and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me correct answer with carefully draw and full explanation and calculation otherwise i give downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

The following table contains output and marginal cost data for points above minimum average variable for a typical
firm in a perfectly competitive industry.
Output
5
6
7
8
9
10
MC
3
456 00
7
8
Using the line drawing tool and the data above, draw 3 industry supply curves assuming there are 10, 15 and 20
firms. Label these lines S₁, S₂ and S3, respectively.
Carefully follow the instructions above, and only draw the required objects.
~
Price ($)
10-
9.
8-
7
6-
4
3-
2-
1.
0-
0
25
50 75 100 125 150
Output (units per day)
175 200
▶

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