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8.6 The Short Run Market Supply Curve.docx
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8.6 The ShortRun Market Supply Curve
1.
Three hundred firms supply the market for paint. For fifty of the firms, their shortrun
average variable costs are minimized at $10 and shortrun total costs are minimized at $15.
For the remaining firms, the shortrun average variable costs and shortrun average total
costs are minimized at $20 and
$25, respectively. If each firm has a Ushaped marginal cost curve then the shortrun
market supply curve is
A) Ushaped too
B) kinked at $10
C) kinked at $15
D) kinked at $20
E) kin
ked at
$25
Answ
er: D
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