Question: I'm not sure if I am doing this correctly please help. Please show the formulas and any calculations that you do I'm really confused. Thank
I'm not sure if I am doing this correctly please help. Please show the formulas and any calculations that you do I'm really confused. Thank you so much I really appreciate it!

The following graph shows demand, Marginal revenue, marginal cost and average total cost for a perfectly competitive firm. Use the graph to answer the following questions: A. What is the profit maximizing / loss minimizing quantity? How do you know? Explain your answer. (2 points) B. Calculate Total revenue, Total costs and economic Profit / loss experienced by this firm? (6 points) (Show all formulas and your calculations) C. What do you expect to happen in this market in the long run? Explain your answer. (3 points) D. What is the break even price? How do you know? Explain your answer. (3 points) Price MC ATC AVC 30 Demand= MR=P* 20 18 13 15 19 25 35 40 Quantity
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