Graph 14-7

question 143

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 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) 100
• B) 200
• C) 300
• D) 400

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Definitions:

Marketing Activities

Actions undertaken by a company to promote and sell its products or services, including advertising, sales promotions, and public relations.

Marketing Department

A division within a company responsible for promoting products or services, brand management, and market research.

Crossover SUV

A type of sports utility vehicle that features a unibody construction, blending features of passenger cars with those of traditional SUVs for increased efficiency and comfort.

Satisfied Needs

The fulfillment of a consumer's requirements or desires through the consumption of products or services.