Answer Happy

Part III: ACDC Econ Video - watch 11. Label the following graph with the MC, ATC, MRDARP: Price MC ATC P MRDA RP Q Quantity 12. According to ACDC, what does MR DARP stand for? Marginal revenue, demand, average revenue, price 13. According to the graph above, is the company making a profit, breaking even, or a loss? How do you know? 14. What happens if the ATC is below the MR line? Draw what this would look like. 15. What happens if the ATC is above the MR line? Draw what this would look like. following: