A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results: where P is price,M is income,and is the price of a key input.The forecasts for the next year are = $15,000 and = $20.Average variable cost is estimated to be Total fixed cost will be $6,000 next year.Suppose that income for next year is forecasted to be $9,000 instead.What will the firm's profit loss)be?

Question

A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:   where P is price,M is income,and  is the price of a key input.The forecasts for the next year are  = $15,000 and  = $20.Average variable cost is estimated to be  Total fixed cost will be $6,000 next year.Suppose that income for next year is forecasted to be $9,000 instead.What will the firm's profit loss)be?

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The Answer of A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:   where P is price,M is income,and  is the price of a key input.The forecasts for the next year are  = $15,000 and  = $20.Average variable cost is estimated to be  Total fixed cost will be $6,000 next year.Suppose that income for next year is forecasted to be $9,000 instead.What will the firm's profit loss)be?

A Consulting Company Estimated Market Demand and Supply in a Perfectly