Exhibit 7-10 Price and cost data for a firm
Q
P
AVC
ATC
MC
0
$12
?
?
?
1
12
3
5
5
2
12
5
6
7
3
12
7.3
8
12
4
12
9.5
10
16
In Exhibit 7-10, MR is the same as which column?
A. Q.
B. P.
C. AVC.
D. ATC.
E. MC.
Answer: B
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a. D2 shows an increase in demand; D3 show a decrease in demand.
b. D2 shows a decrease in demand; D3 show an increase in demand.
c. D2 shows an increase in price; D3 shows a decrease in price.
d. D2 shows a decrease in price; D3 show an increase in price.
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