4. Profit maximization in the cost-curve diagram The following graph plots daily cost curves for a firm operating in the competitive market for designer handbags. Hint: Once you have positioned the rectangle on the graph, select a point to observe its coordinates. \fIn the short run, given a market price equal to $45 per bag, the rm should produce a daily quantity of On the preceding graph, use the blue rectangle (circle symbpts) to ii' in the area that represents prot I $45 and the quantity of produco'on from your previous answer. Note: In the following question, enter a positive number regardless of whether the rm earns a profit 0 The rectangular area represents a shortrun V of- thousand per day.r for the rm. In the short run, given a market price equal to $45 per bag, the rm should produce a daily.r quantity.r of V bags. On the preceding graph, use the blue rectangle (circle symhpts) to t! in the area that represents pmt or toss of the firm given the market price of $45 and the quantity of production from you answer. Note: In the following question, enter a posi ber regardless of whether the rm earns a profit or incurs a loss. The rectangular area represents a shortrun V of- thousand per day for the rm