4. Profit maximization in the cost-curve diagram Suppose that the market for air fresheners is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. 40 36 Profit or Loss 32 28 24 a 20 16 U 12 AVC 0 2 4810 2 14 16 18 20 QUANTITY (Thousands of air fresheners per day) In the short run, at a market price of $20 per air freshener, this firm will choose to produce air fresheners 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 $20 and the firm chooses to produce the quantity you already selected Note: In the following question, enter a positive number, even if it represents a loss The area of this rectangle indicates that the firm's would be $ thousand per day in the short run