Plot the firm average variable cost curve

Reference no: EM131774595

Question: The accompanying table shows the variable cost that a perfectly competitive firm incurs at various levels of output.

Part 1: Plot this firm's average variable cost curve (label it AVC) using the multi-point line tool. Make sure to plot a point for each non-zero quantity listed in the table.

Part 2: Use a horizontal drop line to identify the shut-down price (label it PS). Make sure that the right endpoint of the drop line is placed on the AVC curve.

Part 3: Plot the firm's short-run individual supply curve (label it SRS) using the multi-point line tool. Plot every point on the supply curve that can be identified from the table. Hint: only plot points for non-zero quantities.

Units of Output	Variable Cost (VC)
0	$0
1	8
2	11
3	18
4	28
5	40
6	54

Reference no: EM131774595

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