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The market for dog-sitting services is comprised of 75 perfectly competitive producers. Each producer has fixed costs of $7.50. S P' =5 D N 0.5
The market for dog-sitting services is comprised of 75 perfectly competitive producers. Each producer has fixed costs of $7.50. S P' =5 D N 0.5 50 100 150 200 Using the market equilibrium graph above, we can determine that each dog sitting service provider has economic profit, TI, that is zero because a producer's surplus is + fixed costs
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