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Goshia [24]
3 years ago
10

A small town is served by many competing supermarkets, which all have the same constant marginal cost. Use the black point (plus

symbol) to show the competitive price and quantity in this market. Then use the green area (triangle symbol) to shade the area representing consumer surplus in the market for groceries, and use the purple area (diamond symbol) to shade the area representing producer surplus.

Business
1 answer:
Delicious77 [7]3 years ago
4 0

Answer and Explanation:

From the diagram in the picture (please find attached) we see that the competitive price and quantity lies at the marginal cost( which the producer cannot go below). The consumer surplus lies just below the demand curve(the downward sloping curve with) and the producer surplus is above the marginal cost. Note the producer surplus is the difference between what the supplier is willing to sell and how much he actually sells,  the marginal cost is the lowest the supplier would want to sell. This applies to the consumer surplus too

The producer surplus region was indicated with vertical strokes in the diagram attached

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Answer:

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4 0
2 years ago
The total cost of producing 15 tons of butter is $35000. If average variable cost is $530, then what is the firm's average fixed
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Answer:

$1803.33

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7 0
3 years ago
Suppose a firm has 15 million shares of common stock outstanding and six candidates are up for election to five seats on the boa
jasenka [17]

Answer:

Consider the following calculations

Explanation:

a.) Under cumulative voting scenario,

Total number of votes available = Common Shares Outstanding × No of directors

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