Scribd Logo
Upload

Welcome to Scribd!

  • Graphs 50 To 59 Microecon Lecture Eight

    Uploaded by

    አማን በአማን
    7 views6 pages
    The document contains graphs illustrating various economic concepts related to firms and industries in the short run, including: 1) Graphs 50-55 show individual firm supply curves under different market conditions, including perfect competition (TR/TC approach) and monopoly (MR/MC approach). 2) Graph 56 shows how an individual firm's short-run supply curve is determined by its marginal cost (SMC) and average variable cost (SAVC) curves. 3) Graph 57 depicts short-run industry equilibrium where industry supply (S') is determined by the aggregation of individual firm supply curves (S). 4) Graphs 58-59 compare perfect competition and monopoly market structures at the firm and industry

    Original Description:

    Graphs 50 to 59 Microeconomics Lecture Eight

    Original Title

    Graphs 50 to 59 Microecon Lecture Eight

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document contains graphs illustrating various economic concepts related to firms and industries in the short run, including: 1) Graphs 50-55 show individual firm supply curves under different market conditions, including perfect competition (TR/TC approach) and monopoly (MR/MC approach). 2) Graph 56 shows how an individual firm's short-run supply curve is determined by its marginal cost (SMC) and average variable cost (SAVC) curves. 3) Graph 57 depicts short-run industry equilibrium where industry supply (S') is determined by the aggregation of individual firm supply curves (S). 4) Graphs 58-59 compare perfect competition and monopoly market structures at the firm and industry

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    7 views6 pages

    Graphs 50 To 59 Microecon Lecture Eight

    Uploaded by

    አማን በአማን
    The document contains graphs illustrating various economic concepts related to firms and industries in the short run, including: 1) Graphs 50-55 show individual firm supply curves under different market conditions, including perfect competition (TR/TC approach) and monopoly (MR/MC approach). 2) Graph 56 shows how an individual firm's short-run supply curve is determined by its marginal cost (SMC) and average variable cost (SAVC) curves. 3) Graph 57 depicts short-run industry equilibrium where industry supply (S') is determined by the aggregation of individual firm supply curves (S). 4) Graphs 58-59 compare perfect competition and monopoly market structures at the firm and industry

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 6

    Graph 50: TR and TC approach.

    R TC
    C TR

    Max ∏

    0 X

    Graph 51: MR and MC approach


    P
    C SMC
    SATC

    P e D = MR = AR
    AC

    0 Xe X
    Graph 52
    P SMC
    C
    SATC

    P e’ e D = MR = AR

    0 Xe’ Xe X

    Graph 53
    P
    C SMC
    SATC
    P e MR = AR
    Profit = area PABe
    A B

    0 Xe X
    Graph 54
    SMC
    P SATC
    C SMC

    F C
    P e MR = AR loss = area FPeC

    0 Xe X

    Graph 55
    P SMC
    C SATC

    SAVC

    W – closing-down point
    Pw W of the firm.

    SAFC
    0 Xw X
    Graph 56: Short-run supply curve of the firm
    P P
    C SMC S
    P2 ……………………… SATC P2 …………………..
    P1…………………….. SAVC P1 ……………….

    Pw ……………….. Pw ………... .

    0 Xw X1 X2 X 0 Xw X1 X2 X

    Graph 57: Short-run Industry equilibrium


    P
    D S’

    ͞P …………………

    S D’

    0 ͞X X
    Graph 58a Graph 58b
    P S P LMC
    S’ C SMC1 LAC
    P……………. P SAC1 dd
    SAC
    P1…………………… P1 dd1
    SMC
    D
    0 X 0 X

    Graph 59
    P P LMC
    C
    D S’ SMC LAC
    SAC
    P………………………….. P P = MR

    S D’
    0 X 0 X
    Industry Firm

    You might also like