## Answers

Price | QS by 20 firms | QS by 40 firms | QS by 60 firms |

20 | 40 | 60 | |

16 | 240000 | 480000 | 720000 |

40 | 300000 | 600000 | 900000 |

52 | 320000 | 640000 | 960000 |

64 | 340000 | 680000 | 1020000 |

80 | 360000 | 720000 | 1080000 |

Blank 1: 40

Blank 2: make economic loss

Blank 3: Exit

Blank 4: Zero

Blank 5: 52

Blank 6: 20

Given statement is False

Supply (20 firms) Den and Supply (40 firms) PRICE (Dollars per pound) Supply (60 firms) 0 120 1080 1200 240 360 480 600 720 840 960 QUANTITY (Thousands of pounds)

.
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