This graph shows the cost curves and marginal revenue curves for a firm. Cost, $ MC 120 80 75 25 b. 450,000 c. -135,000 10 d. 950,000 e. 400,000 D = MR ATC AVC 6. Based on the above graph, how much is this firm's profit in the long-run? a. $360,000 Quantity in thousands
This graph shows the cost curves and marginal revenue curves for a firm. Cost, $ MC 120 80 75 25 b. 450,000 c. -135,000 10 d. 950,000 e. 400,000 D = MR ATC AVC 6. Based on the above graph, how much is this firm's profit in the long-run? a. $360,000 Quantity in thousands
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 20RQ: What two lines on a cost curve diagram intersect at the zero-profit point?
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Question
![This graph shows the cost curves and marginal revenue curves for a firm.
MC
Cost, $
120
80
75
25
3
10
c. -135,000
d. 950,000
e. 400,000
D = MR
ATC
AVC
Quantity
in thousands
6. Based on the above graph, how much is this firm's profit in the long-run?
a. $360,000
b. 450,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3de35205-26d6-4454-aaa2-6bc3d012af0c%2F54e3960d-e360-4d43-b4ce-10b17dff62b5%2Fu0o8h8l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:This graph shows the cost curves and marginal revenue curves for a firm.
MC
Cost, $
120
80
75
25
3
10
c. -135,000
d. 950,000
e. 400,000
D = MR
ATC
AVC
Quantity
in thousands
6. Based on the above graph, how much is this firm's profit in the long-run?
a. $360,000
b. 450,000
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