The following graph shows the daily market for extra-large cardboard boxes in San Diego. Suppose that Talero is one of more than a hundred competitive firms in San Diego that produce such cardboard boxes.
a.) Based on the graph, what is the price that Talero must take as given?
b.) Fill in the following table with data for the total, marginal, and average revenue Talero earns when it produces the different quantities and prices given in the table.
c.) The demand curve that Talero faces is identical to which of its other curves:
(I) marginal revenue curve;
(ii) marginal cost curve;
(iii) supply curve;
(iv) average revenue curve? Select all that apply and explain briefly.
|Quantity (Boxes)||Price ($ per Box)||Total Revenue ($)||Marginal Revenue ($)||Average Revenue ($ per Box)|