Question: Question 3 graph is monopoly market, second graph is perfect competition Question 3 Price, ATC, MC MC, MR ATC 35 30 20 MR Demand 70

Question 3 graph is monopoly market, second graph is perfect competition

Question 3 Price, ATC, MC MC, MR ATC 35 30 20 MR Demand 70 75 Quantity Use the graph above in question 3 to compute profit or loss for the company (show your computation below) Price, cost of bushel $30 26 MC 22 ATC 18 14 AVC 10 NO 2 3 4 5 6 Quantity of corn (bushels) a) What is the output (quantity) at price P = 14? b) o At P = 18, what is the company's Profit or Loss (show your computation below)

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