And the profit of the firms may be similar to each other 8 The market for

And the profit of the firms may be similar to each

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8.The market for fertilizer is perfectly competitive. Firms in the market are producing output, but are currently making economic losses. a.How does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertilizer?
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b.Draw two graphs:
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