-Refer to the above figure.The profit-maximizing price for this firm is

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The profit-maximizing price is the price that maximizes the firm's profit. The profit is equal to the difference between the total revenue and the total cost. The total revenue is equal to the price times the quantity sold. The total cost is equal to the variable cost plus the fixed cost. The variable cost is the cost that varies with the quantity produced. The fixed cost is the cost that does not vary with the quantity produced.In the figure, the profit-maximizing price is $P _ { 1 }$. At this price, the firm sells the quantity $Q _ { 1 }$. The total revenue is equal to $P _ { 1 } \times Q _ { 1 }$. The total cost is equal to the variable cost plus the fixed cost. The variable cost is equal to $v \times Q _ { 1 }$. The fixed cost is equal to $F$. Therefore, the profit is equal to $P _ { 1 } \times Q _ { 1 } - v \times Q _ { 1 } - F$.At any other price, the profit will be lower. For example, if the price is $P _ { 2 }$, the firm will sell the quantity $Q _ { 2 }$. The total revenue will be equal to $P _ { 2 } \times Q _ { 2 }$. The total cost will be equal to the variable cost plus the fixed cost. The variable cost is equal to $v \times Q _ { 2 }$. The fixed cost is equal to $F$. Therefore, the profit will be equal to $P _ { 2 } \times Q _ { 2 } - v \times Q _ { 2 } - F$. This profit is lower than the profit at the price $P _ { 1 }$.

-Refer to the Above Figure P1P _ { 1 }P1​ B)

-Refer to the Above Figure $P _ { 1 }$
B)