3.12 Market Structures Chart Worksheet-2.pdf - Market Structure Chart Worksheet Sneaker Firm(monopolistic 1a Graph the firm in long run equilibrium Be

3.12 Market Structures Chart Worksheet-2.pdf - Market...

This preview shows page 1 - 5 out of 5 pages.

Market Structure Chart Worksheet Sneaker Firm (monopolistic) 1a Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit maximizing price and quantity. 1b The price of rubber decreases. Rubber is a major component in the production of sneakers. Draw a new graph that shows the change in the profit maximizing price and quantity of sneakers. Be sure to shade the area of loss or profit. Since production costs have decreased, the sneaker company can lower the price of the sneakers. If this happens, demand will increase, which is represented in the graph. It would result in a lower equilibrium price and higher equilibrium price.
Image of page 1
Potato Farm (perfectly competitive) 2a Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit
Image of page 2
Image of page 3
Image of page 4
Image of page 5

You've reached the end of your free preview.

Want to read all 5 pages?

  • Fall '19

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes