Figure 14-9

question 88

Multiple Choice

Figure 14-9
In the figure below, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms.
-Refer to Figure 14-9. If at a market price of $1.75, 52,500 units of output are supplied to this market, how many identical firms are participating in this market?

• A)75
• B)100
• C)250
• D)300

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Definitions:

Television

A system for transmitting visual images and sound that are reproduced on screens, primarily used for broadcasting programs for entertainment, information, and education.

Radio

A medium of broadcasting audio content to a wide audience via electromagnetic waves, historically significant in mass communication.

Disenfranchised

Individuals or groups stripped of their rights or privileges, particularly referring to the loss of voting rights.

Voting Rights

The entitlements of citizens to participate in the election of officials and to have a say in governmental decisions through the act of voting.