3 . Profit maximization in the cost curve diagram Suppose that the market for microwave ovens is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. 100 Profit or Loss ATC 70 60 PRICE (Dollars per microwave) 50 20 AVC 10 MC 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of microwaves) In the short run, at a market price of $35 per microwave, this firm will choose to produce microwaves per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $35 and the firm chooses to produce the quantity you already selected. Note: In the following question, you should enter a positive number in the numeric entry field. The area of this rectangle indicates that the firm's would be $ per day