The figure shows MC, MR and ATC curves for Joe’s Good Enough Cafeteria, a firm that operates in a competitive market.

If the firm is producing 75 units of output, increasing output by one unit would the firm’s profit by $

If the firm is producing 105 units of output, increasing output by one unit would the firm’s profit by $

Joe’s SHORT RUN equilibrium quantity is equal to and profit is $ .

Joe’s LONG RUN equilibrium quantity will be and profit will be $ .