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The graph below shows the TC and TVC curves of Galbraith's Globes Inc., a perfectly competitive firm. a. If the price is $12, draw the

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The graph below shows the TC and TVC curves of Galbraith's Globes Inc., a perfectly competitive firm. a. If the price is $12, draw the total revenue curve, and label it TR. Plot only the endpoints of the curve below. Once all points have been plotted, click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. v TVC 312 Tools 288 264 / 240 Total revenue 216 192 168 144 120 96 72 48 24 0 Total costs/revenues 2 4 6 8 10 12 14 16 18 20 22 Quantity per period b. At this price, what are the breakeven output(s), the profit-maximizing output, and the level of profits at that output? Break-even output(s): and Profit-maximizing output: Total profit: $

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