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< Back to Assignment lithe mpts: I Average: {3 4. Profit maximization in the cost-curve diagram Suppose that the market for frying pans Is a...

Can you explain how to find the answer to this question?


Dropdown #1 options are 7,500, 30,000, 37,500, and 40,000

Dropdown #2 Options are profit, loss

Thank you!


Screen Shot 2018-10-31 at 7.34.38 PM.png

Screen Shot 2018-10-31 at 7.34.38 PM.png

< Back to Assignment lithe mpts: I Average: {3 4. Profit maximization in the cost-curve diagram Suppose that the market for frying pans Is a competitive market. The following graph shows the dally cost curves of a firm operating in thls market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the ooordlnatos of that point. “JO PRICE (Dollars par pan) 1D TC AVG 1a 15 an 25 an as an
QUANTITY [Thousands of pans per day) CD Profit or Loss £550 In the short run, at a market price of $50 per pan, this fin'rl will choose to produce V pans per day. Oh the preceding graph, use the blue rectangle {clrcle symbols) to shade the area representing the firm’s pmlit or loss lf the market price ls $50 and
the Hm? chooses to produce the quantity you already selected. Note: In the following quation, enter a positive number, even if it represents a loss. The area of this rectangle indicates that the firrn’s v would he thousand per day In the short run. Grade it Now Save 5 Continue Continue without saving

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