Graph 14-6

question 23

Multiple Choice

Graph 14-6
In this graph, 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. Use the graph to answer the following question(s) .
-Refer to Graph 14-6. If there are 40 identical firms in this market, what level of output will be supplied to the market when the price is $2.00?

• A) 200
• B) 800
• C) 8000
• D) 20 000

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Definitions:

Text Box

A graphical interface element that allows users to input text into a document or application.

Chart

A visual representation of data designed to make complex information easily understandable.

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Small, draggable areas on the corners and edges of a graphical object or window that allow users to adjust its size.

Form Design View

An interface in database applications that allows users to create and modify the layout and fields of forms for data entry and display.