Question: The graph below summarizes the demand and costs for a firm that operates in a perfectly competitive market. 24 10 12 1 2 3 4

24 10 12 1 2 3 4 5 Quantity 7 MC 8

The graph below summarizes the demand and costs for a firm that operates in a perfectly competitive market.

ATC AVC AFC s 10 II

24 10 12 1 2 3 4 5 Quantity 7 MC 8 ATC AVC AFC s 10 II

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