Lab 12: Perfectly Competitive Market - NC State: WWW4 Server
5 Exercise: 1. (4.4 Page 407) The graph represents the situation of a perfectly competitive firm. Indicate on the graph the areas that represent the following: a. Total cost=ATC*Q b. Total revenue=P*Q c. Variable cost=AVC*Q d. Profit or loss=(P-ATC)*Q Bri...