Graph 14-7

question 199

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. If there are 30 identical firms in this market, what level of output will be supplied to the market when price is $1.00?

• A) 300
• B) 1000
• C) 3000
• D) 30 000