The graph on the left shows the short-run cost curves for a firm in a perfe...
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The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market.The graph on the right shows the current market conditions in this industry.Marginal Revenue for the FIRM from selling the 46th unit of output is $ .
In order to maximize profit, the firm should produce units.
Total Revenue at the profit-maximizing level of output is $ .
Total Cost at the profit-maximizing level of output is $ .
The maximum profit the firm can earn is $ .
The number of firms in this market is .
What do you expect to happen in the long-run?
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