The Producer Equilibrium
Question :Using the data in the following table to:1. Determine the type of the market (whether it is perfect competitive market or monopoly? and why?2.Calculate MR, AR, MC, ATC.3. Using marginal method, determine the producer equilibrium (the output and dollar amount at which the firm maximizes total profit).4. Show your work on a graph to determine whether the firm makes profit (normal profit, super normal profit, or break even) or loss.For more information on The Producer Equilibrium check on:https://en.wikipedia.org/wiki/Economic_equilibrium
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