Profit maximizing level of output-perfectly competitive firm

Reference no: EM1315482

Consider the Figure below that represents a perfectly competitive firm

a. What is the profit maximizing level of output?

b. What is the Average Cost per Unit for producing the output identified in a?

c. What is the firm's profit or loss?

d. Is the firm operating in the long run or in the Short run? How do you know? The firm operating in the long run or in the Short run? How do you know?

Reference no: EM1315482

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