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Quantity Marginal Cost 1 $3 2 5 3 7 3) (Use the table on the left) If the market price is $6, a perfectly competitive 9 profit-maximizing firm will produce units of output. Quantity Total Cost Total Revenue Profit 10 $25 20 60 30 105 40 160 4) Fill in the total revenue column assuming the market price is $5. The maximum profit that the perfectly competitive firm could earn is $ 5) What distance represents profits? (You may use letters or shade in the area.) 700 650 600 550 500 450 350 D P=MR 300 B ATC 250 AVC 20 TM 100 50- 1 2 3 4 5 6 7 8 9 10 11 12 Quantity