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:

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