The table below shows the daily costs of Cathy's Corn Stand. Cathy sells her corn cobs in a perfectly competitive market. Cathy's Corn Stand's Production Costs AVC Quantity (corn cobs) 20 30 40 50 60 70 80 90 ce (dollars) 4.5 4.0 a. Draw Cathy's marginal cost (MC) curve. Instructions: Use the tool 'MC' to plot the curve point by point (8 points total). Cathy's Corn Stand's Production Costs 3.5 3.0 2.5 (dollars) $1.90 1.70 1.55 1.50 1.50 1.60 1.70 1.80 2.0 ATC (dollars) $4.40 3.37 2.80 2.50 2.33 2.31 2.33 2.36 MC (dollars) $1.60 ATC AVC 1.30 1.10 1.30 1.50 2.20 2.40 2.60 1 MC
The table below shows the daily costs of Cathy's Corn Stand. Cathy sells her corn cobs in a perfectly competitive market. Cathy's Corn Stand's Production Costs AVC Quantity (corn cobs) 20 30 40 50 60 70 80 90 ce (dollars) 4.5 4.0 a. Draw Cathy's marginal cost (MC) curve. Instructions: Use the tool 'MC' to plot the curve point by point (8 points total). Cathy's Corn Stand's Production Costs 3.5 3.0 2.5 (dollars) $1.90 1.70 1.55 1.50 1.50 1.60 1.70 1.80 2.0 ATC (dollars) $4.40 3.37 2.80 2.50 2.33 2.31 2.33 2.36 MC (dollars) $1.60 ATC AVC 1.30 1.10 1.30 1.50 2.20 2.40 2.60 1 MC
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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