Figure 14-10
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 14-10. If there are 500 identical firms in this market, what is the value of Q1?
A)10,000
B)20,000
C)50,000
D)150,000

Question

Figure 14-10
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 14-10. If there are 500 identical firms in this market, what is the value of Q1?
A)10,000 
B)20,000 
C)50,000 
D)150,000

Quizplus · Accepted Answer

The Answer of Figure 14-10
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 14-10. If there are 500 identical firms in this market, what is the value of Q1?
A)10,000 
B)20,000 
C)50,000 
D)150,000