SpletMuscle curve synonyms, Muscle curve pronunciation, Muscle curve translation, English dictionary definition of Muscle curve. contraction curve of a muscle; a myogram; the … SpletFrom the marginal cost curve of each firm we can find out at what output the supply would be at a price P. The sum of all these outputs is the total output that the industry would supply at the price P1. The same procedure follows for other prices P 2, P 3, P 4, etc.
AP Microeconomics Sample Student Responses and Scoring Commentary …
SpletSince a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. In other words, the price is already determined in the profit equation, so the perfectly competitive firm can sell any number of units at exactly the same price. SpletMarginal cost (MC) is calculated by taking the change in total cost between two levels of output and dividing by the change in output. The marginal cost curve is upward-sloping. … homer oh look at me
Multiple Choice Quiz - Oxford University Press
Splet11. jul. 2024 · The average and marginal curves are connected to each other and must be drawn according to strict requirements. Whenever a marginal curve is above an average curve, the average curve must be rising. Conversely, whenever a marginal is below an average, the average must be falling. For example, consider the average score on an exam. Spleta)If a MC is above ATC, ATC must be increasing. b The MC curve intersect AFC at its minimum point. c) If MC is below AVC, AVC must be increasing. d)None of the above. A … SpletThe MC curve must be * rising when TC is rising. less than AFC when the average cost is rising. greater than ATC when the average curve is rising. falling when the ATC curve lies … home rodent protection