53,0043 SZJSO 52,500 32,250 52.000 51350 51,500 31,250 $1,000 $150 55W $250 50 D 1 2 3 4 5 E I" 3 9 10 1.1. 12 Output Produced {ql Consider the information in the le named Cost Functions of the Firm [also presented above}. Suppose that these cost functions pertain to a perfectly competitive rm. It the market price of the product is P = $1,680 per unit, the rm will produce units of output. The rm's revenue will equal dollars, its total cost of production will equal dollars. and it will make an economic prot of dollars. In that case. its producer surplus will equal dollars. Moreover. if the market price of the product is P = $1.630 per unit. the rm will be able to cover dollars of the xed cost. $3,000 $2,750 ATC $2,620 $2,500 $2,280 MC $2,250 $1,980 $2,000 $1,608 $1,680 $1,750 $1,380 $1,200 $1,500 $1,342 $1,251 $1,200 $1,250 $1,000 $1,248 $840 - $1,200 $660 $750 AVC $120 $480 $60 $500 $120 $240 $250 $240 50 3 5 6 7 8 9 10 11 12 Output Produced (q) Consider the information in the file named Cost Functions of the Firm (also presented above). Suppose that these cost functions pertain to a perfectly competitive firm. If the market price of the product is P = $1,200 per unit, the firm will produce units of output. The firm's revenue will equal dollars, its total cost of production will equal dollars, and it will make an economic profit of dollars. In that case, its producer surplus will equal dollars. Moreover, if the market price of the product is P = $1,200 per unit, the firm will be able to cover dollars of the fixed cost