Refer to the following figure:

These are the cost curves for a perfectly competitive firm.
-If market price is $2, how much profit will the firm earn?

Name: Refer to the following figure: These are the cost curves for a perfectly competitive firm. -If market price is $2, how much profit will the firm earn?
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Question

Refer to the following figure:
  
These are the cost curves for a perfectly competitive firm.
-If market price is $2, how much profit will the firm earn?

Quizplus · Accepted Answer

If the market price is $2 and the firm is making a loss, it implies that the total cost is greater than the total revenue, resulting in a negative profit of -$600.

Refer to the Following Figure