Homework #3 Posted on December 7, 2010December 8, 2010 by Tom Schenk Jr Download here. Due December 14th. Share:TwitterFacebookGooglePocketTumblrLinkedInEmailMorePinterestRedditStumbleUponPrintGoogle+ Tom Schenk Jr
On #1, I think there is some missing information as you only provided Quantity and nothing else. Reply
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! Reply
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. Reply
On #1, I think there is some missing information as you only provided Quantity and nothing else.
Bobby-
You’re correct, the corrections have been made and reposted.
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!
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.