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Graph 14-5 Price ATC MC /AVC L . Q1 Q; Q4 Quantity Graph 14-5 depicts the cost structure of a firm in a competitive market.

Graph 14-5 Price ATC MC /AVC L . Q1 Q; Q4 Quantity Graph 14-5 depicts the cost structure of a firm in a competitive market. Use this graph to answer the following question. 43. Refer to Graph 14-5. When market price is Ps, a profit-maximising firm's profits can be represented by the area: A. (P5 - P ) x Q3 B. (Ps - P 3) x Q2 C. when market price is Ps there are no profits D. P5 x Q3

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