Question: Using the graph, at what level of output does this perfectly competitive firm maximize profit? Explain why the profit is maximized at that level and

Using the graph, at what level of output does this perfectly competitive firm maximize profit? Explain why the profit is maximized at that

Using the graph, at what level of output does this perfectly competitive firm maximize profit? Explain why the profit is maximized at that level and not below or above it.

level and not below or above it. Price MC ATC P D

Price MC ATC P D = MR 0 Q1 Q2 Q3 Quantity

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