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For the question below, I don't understand why clause 3 is true. When the firm is producing its last unit,
For the question below, I don't understand why clause 3 is true. When the firm is producing its last unit,
shouldn't the marginal cost still vary since the two curves have different slopes?
For the following question, use the graph below.Price12i- - - -.- - - -i- - - - - --i- -Firm A11- - - - - -- --10Firm B2004006008001000 1200 Quantity(/16) The individual supply curves for Firm A and Firm B are shown in the above graph. If themarket price for the good is $5 per unit, which of the following would be TRUE?Collectively, these two firms would produce 1,400 units.Firm B will receive a greater amount of producer surplus than Firm A.The marginal cost of the last unit produced will be the same for both Firm A and Firm B.a .I and II only.The marginal cost of the 200" unit produced will be greater for Firm A.than for Firm B.b. II and IV only.c. I and III only.d. I, III, and IV only.I, II, III, and IV.