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Firm A in a perfectly competitive market faces the following conditions. Firm A is currently maximizing profit. -Average total cost = $75 -Average variable cost
Firm A in a perfectly competitive market faces the following conditions. Firm A is currently maximizing profit.
-Average total cost = $75
-Average variable cost = $45
-Marginal cost = $52
-Marginal revenue = $52
-Quantity = 20
Using the information above,draw the graph for firm A. The graph should include the curves of ATC, AVC, MC, and MR. Also,mark the values of ATC, MC, MR, and Q in your graph. Indicate theprofit or loss. Don't forget to label all the curves and the indicate values on the axes.
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