Market price : $1.00 Marginal c Fixed costs : $2,000 Is it maximizing profits? Should it produce more, produce less, or stay the same? The graph shows the short-run cost situation of a bypothetical perfectly competitive, profit-maximizing firm. Fill in : the blanks below. If market price is $10 $7.50 $5.50 mc (a ) equilibrium output will be Arc At this output, TONE $ 7.50 AUC total revenue is total cost is total excess profit is OUTUK DE marginal revenue is marginal cost is average total costs is N excess profit per unit is L C 20 40 60 80 100 120 Wlty would we expect that neither $10 nor $5.50 will be the long-run market price