从第一张图中选择填空到第二张图中
A
D
C
B
150
30
4500
20
W
V
200
25
6000
750
250
9000
H
Based on the next figure (where the typical short run cost functions are shown in case of perfect competion), please choose the correct answer from the list below!
Which letter shows the marginal cost curve? $\square$
Which letter shows the marginal revenue curve? $\square$
Which letter shows the average variable cost curve? $\square$
Which letter shows the average cost curve? $\square$
In case of profit maximum, the value of the market price is $\square$ , the value of the produced quantity is $\square$ , and the value of the total reverve is $\square$ $=$

The compary will not produce in the short run, so there will be no supply if the value of the market price goes below $\square$

Question

从第一张图中选择填空到第二张图中
A
D
C
B
150
30
4500
20
W
V
200
25
6000
750
250
9000
H
Based on the next figure (where the typical short run cost functions are shown in case of perfect competion), please choose the correct answer from the list below!
Which letter shows the marginal cost curve? $\square$
Which letter shows the marginal revenue curve? $\square$
Which letter shows the average variable cost curve? $\square$
Which letter shows the average cost curve? $\square$
In case of profit maximum, the value of the market price is $\square$ , the value of the produced quantity is $\square$ , and the value of the total reverve is $\square$ $=$

The compary will not produce in the short run, so there will be no supply if the value of the market price goes below $\square$

Accepted Answer

∻Solution∻ ‖ a ⋮ Marginal Cost Curve: The marginal cost (MC) curve typically intersects the average total cost (ATC) and average variable cost (AVC) curves at their minimum points. In the given chart, the green line that starts at the top left, slopes downward, reaches a minimum point labeled H, and then slopes upward represents the MC curve. ‖ ‖ b ⋮ Marginal Revenue Curve: In perfect competition, the marginal revenue (MR) curve is a horizontal line at the market price level. The red line starting on the y-axis at y = 150 and is horizontal represents the MR curve. ‖ ‖ c ⋮ Average Variable Cost Curve: The AVC curve typically lies below the ATC curve and has a U-shape. The pink line that starts at the bottom left, slopes downward, reaches a minimum point, and then slopes upward represents the AVC curve. ‖ ‖ d ⋮ Average Cost Curve: The average cost (AC) curve, also known as the average total cost (ATC) curve, is U-shaped and lies above the AVC curve. The blue line that starts near the bottom left, slopes upward, intersects with the green line (MC) at x = 20 and y = 25, and then continues to slope upward represents the AC curve. ‖ ‖ e ⋮ Profit Maximization: In perfect competition, profit maximization occurs where MR = MC. From the chart, this intersection happens at x = 20 and y = 25. Therefore, the market price is 25, the produced quantity is 20, and the total revenue is $25 imes 20 = 500$. ‖ ‖ f ⋮ Short Run Production Decision: The firm will not produce in the short run if the market price goes below the minimum point of the AVC curve. From the chart, this minimum point is at y = 20. ‖ ∻Answer∻ ⚹ - Marginal Cost Curve: Green line (H) - Marginal Revenue Curve: Red line (y = 150) - Average Variable Cost Curve: Pink line - Average Cost Curve: Blue line - Market Price: 25 - Produced Quantity: 20 - Total Revenue: 500 - No production if market price < 20 ⚹ ∻Key Concept∻ ⚹ Identification of cost and revenue curves in perfect competition ⚹ ∻Explanation∻ ⚹ The marginal cost curve intersects the average cost curves at their minimum points, the marginal revenue curve is horizontal in perfect competition, and the firm will not produce if the market price is below the minimum AVC. ⚹◊What is the relationship between the quantity of goods and the price in the context of perfect competition in Microeconomics?⍭ Generate me a similar question◊

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