Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 11 - Monopolistic Competition and Oligopoly - Quick Quiz for Figure 11.1 - Page 220: 2

Answer

A. Graph (a) only.

Work Step by Step

Drawing a straight horizontal line from price in each graph, the line intersects the demand curve at a quantity where only in graph a, the ATC curve is below the price level. In graph b, ATC is above price and in graph c, ATC is equal to price.
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