20. Price and output determination for a perfectly competitive firm D S Q Q P P Industry Firm P * P * AC MC Q * Q * E C B A AR = MR
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23. Measuring Profit in the Graph for the Competitive Firm... Quantity 0 Price P = AR = MR ATC MC P Profit-maximizing quantity A Firm with Profits Profit Q ATC
24. Measuring Profit in the Graph for the Competitive Firm... Quantity 0 Price P = AR = MR ATC MC P Q Loss-minimizing quantity A Firm with Losses Loss ATC