Question
On the following graph, use the orange point (square symbol) to indicate the profit-maximizing quantity. Use the blue point (circle symbol) to indicate the profit-maximizing
On the following graph, use the orange point (square symbol) to indicate the profit-maximizing quantity. Use the blue point (circle symbol) to indicate the profit-maximizing price. Use the purple point (diamond symbol) to indicate the average total cost. Use the tan rectangle (dash symbol) to show Oiram-46's total revenue and the grey rectangle (star symbol) to show its total cost.
Profit-Maximizing QuantityProfit-Maximizing PriceAverage Total CostTotal RevenueTotal Cost0246810121416182020181614121086420PRICE (Dollars per magic hat)QUANTITY (Magic hats per week)DemandMarginal CostMCATC
Based on the graph, Oiram-46's profit is equal to
.
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