Figure 14-9

question 82

Multiple Choice

Figure 14-9
In the figure below, 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.
-Refer to Figure 14-9. If there are 400 identical firms in this market, what level of output will be supplied to the market when price is $2.00?

• A)10,000
• B)20,000
• C)40,000
• D)80,000

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Definitions:

Propagates Upward

Refers to a process or effect that moves or spreads from a lower point to a higher point in a system or structure.

Burial

The process of depositing sediments on top of or burying organic or geological material, affecting both archaeological and geologic contexts.

Metamorphism

The process by which a rock's structure or mineralogy is transformed due to extreme pressure and temperature conditions, without the rock melting.

Fault Scarp

A steep slope or cliff formed as a result of movement along a fault line, representing the visible expression of faulting.