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Diagram A: Cost Situation for Each Greebe Producer FILM maria: IlII $1 35 1 .50 1 2 3 4 5 6 T B 9 QUANTHY {thousands at Graebes per week) 1. The

Use the graph below to answer the following questions:

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qweqwe.png

Diagram A: Cost Situation
for Each Greebe Producer
FILM maria:
IlII $1 35
1 .50 1 2 3 4 5 6 T B 9
QUANTHY
{thousands at Graebes per week) 1. The price set by the market for Greebes isl l Diagram B: Market 3:12eg
and Demand for Greebas IIIIIIII!
Ilia... 4‘ 1 .25 .-
m1mlll ll
2 ' 1
E .75 -
.50 D 1234-56?
QUANTITY {millions of Greest per week) 59 |
2. Using the graphs above is the market in Long run equilibrium (Yes I N0): 3. Is the firm currently mak‘lnga profitl I 4. The firm is currentl'lur producingl l |
5. The firm is currently:' making, approximately, a per unit profit of l 6. Current average total cost at a quantity of eight thousand isl I-
7. Are firms likelyr to enter the field; I 10. at a price of 0.65, in the short run will the firm operate. yes/no l

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