Graph 14-7 in This Graph, Panel (A) Depicts the Linear

question 127

Multiple Choice

Graph 14-7 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 14-7.When 200 identical firms participate in this market, at what price will 25 000 units be supplied to this market?

• A)$1.00
• B)$1.25
• C)$2.00
• D)this cannot be determined from the information provided

---

Definitions:

Retail Stores

Physical establishments where goods are sold directly to the consumer.

Manufacturer

An entity or business that produces goods on a large scale using machinery, labor, and raw materials.

Agent

A person or entity authorized to act on behalf of another, often in business dealings or negotiations.

Legal Authority

The lawful right given to an individual or body to make decisions, to command, or to judge matters according to law.