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(Solved): - Graph below shows costs, price, and quantity of \( x \) for firm A which is a price taker operat ...



- Graph below shows costs, price, and quantity of \( x \) for firm A which is a price taker operating in a perfectly competit

- Graph below shows costs, price, and quantity of \( x \) for firm A which is a price taker operating in a perfectly competitive market. a. What is firm A's profit-maximizing level of output if market price is set at \( \$ 1.40 \) ? \( -Q \) b. Firm \( \mathrm{A} \) 's total revenue if market price is set at \( \$ 1.30 \) ? \( \$ \) c. Firm A's Average Fixed Cost at 21 units of output \( x \) is: \( \$ \) d. Firm A's Total Cost at 21 units of output \( x \) is: ?


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a) in the competitive market the profit is maximized at a level where the marginal cost intersect with the price of the goods
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