On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's extra-large cardboard boxes. (Hint: Remember that perfectly competitive firms must accept the given market price.) PRICE (Dollars per extra-large box) 50 45 40 35 22 22 o 30 25+ A 20 15 ô 5 0 2 4 5 6 QUANTITY (Thousands of extra-large boxes) A 1 3 7 8 Quantity Price (Boxes) (Dollars per box) 0 25 1 25 2 25 3 25 9 10 14 Demand In the following table, fill in the price and the total and marginal revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. 25 50 75 (?) Total Revenue Marginal Revenue (Dollars) (Dollars) 0 25 25 25 The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal cost curve Supply curve Marginal revenue curve Total revenue curve

On the following graph, use the green line (triangle symbol) to plot the demand curve for Falero's extra-large cardboard boxes. (Hint: Remember that perfectly competitive firms must accept the given market price.) PRICE (Dollars per extra-large box) 50 45 40 35 22 22 o 30 25+ A 20 15 ô 5 0 2 4 5 6 QUANTITY (Thousands of extra-large boxes) A 1 3 7 8 Quantity Price (Boxes) (Dollars per box) 0 25 1 25 2 25 3 25 9 10 14 Demand In the following table, fill in the price and the total and marginal revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. 25 50 75 (?) Total Revenue Marginal Revenue (Dollars) (Dollars) 0 25 25 25 The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal cost curve Supply curve Marginal revenue curve Total revenue curve

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 10P

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