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5. Based on the graph, respond to the following questions: Firm A Firm B Price and Price and Cost Cost MC ( dollars) MC (dollars)
5. Based on the graph, respond to the following questions: Firm A Firm B Price and Price and Cost Cost MC ( dollars) MC (dollars) ATC 11 11 10 10 AVC JATC 2 70 90 100 150 100 150 200 Quantity Quantity a. What is Firm A's profit (loss) at the profit-maximizing (or loss-minimizing) production level? b. At the moment where Firm A produces in the short run, what is its total fixed cost? c. What is Firm A's overall revenue at the point where it is producing in the near term? d. At the profit-maximizing level of production, what is Firm A's total variable cost? e. What is Firm A's total cost of production at the profit-maximizing level? f. At the profit-maximizing (or loss-minimizing) level of production, what is Firm B's profit (loss)? g. What is Firm B's entire revenue at the point where it is producing in the near term? h. At the profit-maximizing level of production, what is Firm B's total variable cost? i. What is Firm B's total cost of production at the profit-maximizing level
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