4. Profit maximization in the Dost-curve diagram Suppose that the market for candles is a perfectly competitive market. The Following graph shows the clail'iur cost curves of a rm operating in this market. In the short run, at a market price of $20 per candle, this rm will choose to produce 7 candles per day. 0n the prew'ous graph, use the blue rectangle (clrcle symbols) to shade the area represe rm '5 prot or loss lf the market prlce ls $20 and the rm chooses to produce the quantity you already selected. Note: In the following question, you should enter a positive number in the numeric e The area ofthis rectangle indicates that the rm's 7 would be per day. In the short run, at a market price of $20 per candle, this rm will choose to produce V candles per day. On the prewous graph, use the blue rectangle (drde symbols) to shade the area representing the rm's prot or loss if the market price is $20 and the rm chooses to produce the quantity you already selected. Note: In the following question, you should enter a positive number in the numeric entry eld. The area ofthis rectangle indicates that the rm's v would be per day.