Aplia Student Question consider The Competitive MindTap Ceng

Aplia: Student Question consider The Competitive MindTap Cengage Learn x VI Give Myself Away by Wi G Economics question l Che x x -> fi D courses.aplia.com/af/serviet/quiz?quiz-action-takeQuiz&quiz-probGuid-Q4PLCOA801010000002dfc8510090000;&ctXemitchchark;0019 AppsCareerBoltz | Job Se 6. Deriving the short-run supply curve Consider the competitive market for dress shirts. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry 100 90 80 70 60 50 TC 40 30 20 AVC 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of shirts) Timeout 59:04

Solution

Price($) Quantity Produce or shut down Profit or Loss 10 20 shut down Loss 20 30 Produce Loss 30 35 Produce Loss 40 37.5 Produce Loss 50 40 Produce No profit / No loss 60 42.5 Produce Profit