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The figure below shows the cost curves of a firm in the competitive market. 90- 80 70 60 - ATC Price and cost ($) 50

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The figure below shows the cost curves of a firm in the competitive market. 90- 80 70 60 - ATC Price and cost ($) 50 - 40 - AVC 30 MC 20 10 10 20 30 40 50 60 70 80 90 Quantity a. (5 points) How many units does this firm sell at the price of $30? b. (5 points) When the market price is $30, calculate the firm's profit or loss. c. (5 points) At what price, should this firm exit the market in the long-run

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