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.