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Q
Total Cost
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0640\$640\$0------------
1) Fill in the blanks in the table
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11040\$640\$400640.00400.001040.00400.00
2) Graph the Marginal Cost
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21280\$640\$640320.00320.00640.00240.00
3) Draw the supply curve, assuming there are
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31360\$640\$720213.33240.00453.3380.00
100 firms in the market
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41520\$640\$880160.00220.00380.00160.00
4) Find the equilibrium market price. Describe what
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51720\$640\$1,080128.00216.00344.00200.00
each firm will be doing today in the short run.
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61960\$640\$1,320106.67220.00326.67240.00
What will change in the long run?
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72240\$640\$1,60091.43228.57320.00280.00
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82640\$640\$2,00080.00250.00330.00400.00
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93200\$640\$2,56071.11284.44355.56560.00
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103880\$640\$3,24064.00324.00388.00680.00
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