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Suppose Amari operates a handicraft pop-up retail shop that sells phone cases. Assume a perfectly competitive market structure for phone cases with a market price

Suppose Amari operates a handicraft pop-up retail shop that sells phone cases. Assume a perfectly competitive market structure for phone cases with a market price equal to $20 per phone case.The following graph shows Amari's total cost curve.

Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for phone cases for quantities zero through seven (including zero and seven) that Amari produces.

image text in transcribedimage text in transcribed
200 O 175 Total Revenue 150 Total Cost A 125 Profit 100 TOTAL COST AND REVENUE (Dollars) 75 0 50 25 0 -25 0 1 2 3 4 5 6 7 8 QUANTITY (Phone cases)COSTS AND REVENUE (Dollars per phone case) 40 35 30 25 20 15 10 3 4 5 QUANTITY (Phone cases) 0 Marginal Revenue Marginal Cost 9

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