Suppose that the market for microwave ovens is a competitive market. The followi

Question

Suppose that the market for microwave ovens is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. In the short run, at a market price of $35 per microwave, this firm will choose to produce microwaves per day. On the previous graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $35 and the firm chooses to produce the quantity you already selected. In the following question, you should enter a positive number in the numeric entry field. The area of this rectangle indicates that the firm's would be per

Explanation / Answer

7500 micro waves per day

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