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Suppose that the market for sweaters is perfectly competitive. The graph below shows the cost curves of a typical manufacturer in the market.

Suppose that the market for sweaters is perfectly competitive. The graph below shows the cost curves of a typical manufacturer in the market.

Use the blue rectangle (circle symbols) to shade the profit that the manufacturer makes at a market price of $16.

(graph is on http://i40.tinypic.com/2hfly5g.jpg)


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