Competitive market Homework Types of competitive market equilibrium G : Geometric (Due : 6/2, 10 pm (short Run Profit Maximization I) N: numerical (CASE2) P = Lowest ATC at Equilibrium TR = ??x?? = 0???? (G) P D = MR-curves = $??x?? = $???? (N ) MC A TC = ??x?? = 0???? (Cr ) = $??x?? = $???? (N ) P2(=MR)=$54 + B AVC TP = TR - TC = 0???? - ???? (CT ) = $???? - $???? = $? (N ) complete ???? Economic Profit: Keep Producing (earns normal profit) 26 (cf) B: Break Even Point Draft version; Do not circulate in any form; Class use only