Help completing the graph static/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=97813376223498&id=9084911198&snapshotld3D1937530&CENGAGE MINDTAPHomework (Ch 08)5045Profit or Loss403530ATC1510AVCMC81216202428323640QUANTITY OF OUTPUT (Shirts)In the short run, at a market price of $20 per shirt, this firm will choose to producev shirts 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 $20 andthe firm chooses to produce the quantity you already selected.Note: In the following question, you should enter a positive number in the numeric entry field.The area of this rectangle indicates that the firm'sv would be sper day.ho. PIlDDIdelete$.&6.89.->backspacPRICE AND COST (Dollars per shirt) Homework (Ch 08)* MindTap - Cengage Learningage.com/static/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id=9084911198&snapshotld=1937530&«* CENGAGE MINDTAPHomework (Ch 08)4. Short-run profit maximization or loss minimization for a perfectly competitive firmSuppose that the market for polo shirts is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in thisolsmarket.(?)504540Profit or Loss3530ATC25les of201510AVC5MC4121620242832 3640QUANTITY OF OUTPUT (Shirts)In the short run, at a market price of $20 per shirt, this firm will choose to produceshirts per day.ヘs do19 144ho. PlDIIDDIf12区。deletehon$.&3*6.7.8.9.%3DbackspaceRP.PRCE AND COST (Dollars per shirt)

In a competitive firm there are large number off firms selling identical products thus they are…

45 Profit or Loss 40 35 30 ATC 25 20 15 10 AVC 5. MO + 4 8 12 QUANTITY OF OUTPUT (Shirts) 16 20 24 28 32 36 40 In the short run, at a market price of $20 per shirt, this firm will choose to produce shirts 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 $20 and the firm chooses to produce the quantity you already selected. Note: 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 day.