Economics 2223A/B Lecture : Graph for uhat_a.pdf
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The table below contains typical economic data. It shows the quantity of a good that is demanded by purchasers and the quantity supplied by producers at various prices.
Price | Quantity Demanded | Quantity Supplied |
$100 | 10 | 25 |
$80 | 20 | 20 |
$60 | 30 | 15 |
$40 | 40 | 10 |
$20 | 50 | 5 |
$0 | 60 | 0 |
Ā | Ā | Ā |
At which price are quantities demanded and quantities supplied the same?
$100
$80
$40
$0
At which price is the quantity supplied equal to 10?
$100
$80
$40
$0
Refer to the table in question 1.
At which price is the quantity demanded less than the quantity supplied?
$100
$80
$40
$0
Complete the cost table.
Total Output | Cost | TFC | TVC | AFC | AVC | ATC | MC |
0 | $20 | Ā | Ā | Ā | Ā | Ā | Ā |
10 | $40 | Ā | Ā | Ā | Ā | Ā | Ā |
20 | $60 | Ā | Ā | Ā | Ā | Ā | Ā |
30 | $90 | Ā | Ā | Ā | Ā | Ā | Ā |
40 | $120 | Ā | Ā | Ā | Ā | Ā | Ā |
50 | $180 | Ā | Ā | Ā | Ā | Ā | Ā |
60 | $280 | Ā | Ā | Ā | Ā | Ā | Ā |
Ā