The Following Graph Shows the Market Demand and Average Cost

question 119

Multiple Choice

The following graph shows the market demand and average cost curve for electricity (in millions of kilowatts) in an urban centre:

-Refer to the above graph to answer this question.Suppose that the price is $3,and the market is served by two competing firms,each having 50% of the market.What will be the profit or loss made by each firm?

• A)$0.
• B)Loss of $50.
• C)Loss of $100.
• D)Loss of $150.
• E)Profit of $100.

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Definitions:

Skin Test

A medical test where a small amount of substance is placed on or under the skin to check for an allergic reaction or disease.

Usual Dose

The common amount of a medication recommended for administration under normal circumstances.

Intramuscular Injection

A method of administering medication deep into the muscles, allowing the drug to be absorbed into the bloodstream quickly.

Mixing Medications

The process of combining different drugs to ensure proper dosing and compatibility, often conducted in healthcare settings.