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b. Graph what we called The Cost Graph in class. I c. If the market price is currently $70.04fcheesecake, what is lma's prot maximizing quantity?

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b. Graph what we called "The Cost Graph" in class. I c. If the market price is currently $70.04fcheesecake, what is lma's prot maximizing quantity? How much accounting prot does she make? How much economic profit does she make? If she wanted to maximize accounting profit instead of economic profit, would she produce the same amount? 0r less? Or more? If market demand at a price of $70.04 is 42,000 cakes, and all firms are just like lma's, how many rms are currently in the market? Is this or is this not a long run equilibrium? Why or why not? And if not, what would have to happen for the market to get to long run equilibrium

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