4 thoughts on “Homework #3

  1. On #1, I think there is some missing information as you only provided Quantity and nothing else.

  2. Mr. Schenk-

    On #2-How is it that you find the determine the “break-even” point again?

    Also on 2d, when drawing the supply curve- do I just put all the different costs on a graph and call it a supply curve?

    On #3d-How do I go about drawing a demand curve? Again, just put all the different budget constraints on a graph and call it a demand curve?

    Thanks for your help!

    1. Break-even is where MC is greater than or equal to AVC.

      For 2d- Just graph the applicable supply curve on a different graph–separate from the other curves.

      3d- Find the amount you’ll consume for each respective price points–$15, $10, and $6. Graph each price and the amount consumed on a separate graph.

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