Celia's Family Photos is a photographic portrait business in a perfectly competitive market in Duluth. The market price of a portrait is $55.00. The table shows Celia's total costs. How many portraits does Celia sell in an hour and what is Celia's economic profit in the short run? ume 5 Celia's Family Photos sells portraits an hour. Get more help - DII F5 A 6 F6 & F7 PrtScn FB * 8 Home F9 ( 9 End F10 Quantity (portraits per hour) 0 2 0 3 4 5 6 Clear all PgUp F11 Total cost (dollars per hour) 60 110 140 180 PgDn 230 290 360 Check answer F12 2

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The theory of absolute advantage was given by Adam Smith in the year 1776.