Score: 0 of 1 pt 25 of 30 (26 complete) wscore: 76.89%, 23.07 Concept: Excess Ca

Question

Score: 0 of 1 pt 25 of 30 (26 complete) wscore: 76.89%, 23.07 Concept: Excess Capacity 3 Question Help The figure shows the cost structure for a monopolistically competitive firm selling a particular brand of shoes MC is the marginal cost curve, and AC is the average cost curve 80.00 76.00- 72.00- MC 0? If the firm produces 2 thousand pairs of shoes, does it 64.00 operate with excess capacity? If so, how much? 56.00- 52.00- The firm's excess capacity is thousand pairs of shoes. (Enter your response as a whole number) 44.00 AC 40.00- 28.0 E 24.00- 20.00- 6.00 2.00 Quantity (pairs of shoes in 1000s () More Enter your answer in the answer box and then click check Ansv All parts showing ?????????????????? 80 6 2 6 6 6 5 5 4 4 40 3 2 2 2 2 6 2840 (ied iad selpp) aoud ?? ? 322211

Explanation / Answer

Answer

At minimum AVC the output is 6 units.

This means that the excess capacity is 6 - 2= 4 units

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