1) From the information on the table below, please do the following: A

Subject:EconomicsPrice: Bought3

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1) From the information on the table below, please do the following:

A. Fill in the blanks on the table.

B. Derive the firm's short run supply curve. To do this, sketch a diagram of the firm's MC and AVC curve. Explain clearly how we obtain the supply curve.

C. If 100 identical firms are in the market, how do we get the industry supply curve? You can give a purely verbal explanation of how the market supply curve is obtained.

 

Q	TC	FC	VC	AVC	MC
0	50
1	100
2	128
3	148
4	162
5	180
6	200
7	222
8	260
9	305
10	360
11	425