Figure: Calculating Profits
Refer to the figure that shows a representative firm in a perfectly competitive industry. Using the information provided in the figure answer the following questions.
a.
What is the total profit or loss that this firm is making? Show all your calculations.
b.
Will firms enter or exit the industry?

Question

Figure: Calculating Profits  
Refer to the figure that shows a representative firm in a perfectly competitive industry. Using the information provided in the figure answer the following questions.
a.
What is the total profit or loss that this firm is making? Show all your calculations.
b.
Will firms enter or exit the industry?

Quizplus · Accepted Answer

The Answer of Figure: Calculating Profits  
Refer to the figure that shows a representative firm in a perfectly competitive industry. Using the information provided in the figure answer the following questions.
a.
What is the total profit or loss that this firm is making? Show all your calculations.
b.
Will firms enter or exit the industry?