# Micro Economics

Submitted By charlotteb84660
Words 975
Pages 4
QUESTION 1

Here is a company’s cost data:

|Output |FC |VC |TC |MC |ATC |AVC |
|1 |100 |30 |130 |0 |130 |30 |
|2 |100 |70 |170 |40 |85 |35 |
|3 |100 |120 |220 |50 |73,3 |40 |
|4 |100 |170 |270 |50 |67,5 |42,5 |
|5 |100 |225 |325 |55 |65 |45 |
|6 |100 |300 |400 |75 |66,7 |50 |
|7 |100 |380 |480 |80 |68,6 |54,3 |

Complete the table and draw the MC, ATC and AVC curves on a graph

See the graph n°1 given to you.

The demand function for this market is Qd=1000-10p

Draw the demand curve for this demand function onto the graph. On the x-axis go from 0 to 1000 in gaps of 100. On the y-axis go from 0 to 100 in gaps of 10.

in order to draw the demand curve for this demand function, I had to calculate:

Qd = 1000 – 10 * 10 = 900

Qd = 1000 – 10 * 20 = 800

Qd = 1000 – 10 * 30 = 700

….....etc

Qd = 1000 – 10 * 100 = 0

Then, I reported those results onto the graph paper n°2.

Imagine there are 100 companies in this market and they all have the same cost structure as the one in the table above.

Draw the supply curve onto the graph.

What is the market...

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