100 90 90 80 80 70 60 50 40 40 30 20 20 10 MC ATC MR Time left 1:06:4 0 30 47 60 75 90 105 120 The figure shows MC, MR and ATC curves for Joe's Good Enough Cafeteria, a firm that operates in a competitive market. If the firm is producing 75 units of output, increasing output by one unit would the firm's profit by $ Joe's SHORT RUN equilibrium quantity is equal to and profit is $ Joe's LONG RUN equilibrium quantity will be and profit will be $
100 90 90 80 80 70 60 50 40 40 30 20 20 10 MC ATC MR Time left 1:06:4 0 30 47 60 75 90 105 120 The figure shows MC, MR and ATC curves for Joe's Good Enough Cafeteria, a firm that operates in a competitive market. If the firm is producing 75 units of output, increasing output by one unit would the firm's profit by $ Joe's SHORT RUN equilibrium quantity is equal to and profit is $ Joe's LONG RUN equilibrium quantity will be and profit will be $
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![100
90
90
80
80
70
60
50
40
40
30
20
20
10
MC
ATC
MR
Time left 1:06:4
0
30
47 60 75 90
105
120
The figure shows MC, MR and ATC curves for Joe's Good Enough Cafeteria, a firm that operates in a competitive market.
If the firm is producing 75 units of output, increasing output by one unit would
the firm's profit by $
Joe's SHORT RUN equilibrium quantity is equal to
and profit is $
Joe's LONG RUN equilibrium quantity will be
and profit will be $](https://content.bartleby.com/qna-images/question/f0081353-807b-4880-b79d-f28b34a75190/f6589533-a297-42e3-a967-348b2b52dbbf/w6k9ghw_thumbnail.jpeg)
Transcribed Image Text:100
90
90
80
80
70
60
50
40
40
30
20
20
10
MC
ATC
MR
Time left 1:06:4
0
30
47 60 75 90
105
120
The figure shows MC, MR and ATC curves for Joe's Good Enough Cafeteria, a firm that operates in a competitive market.
If the firm is producing 75 units of output, increasing output by one unit would
the firm's profit by $
Joe's SHORT RUN equilibrium quantity is equal to
and profit is $
Joe's LONG RUN equilibrium quantity will be
and profit will be $
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