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Profit maximization in the cost-curve diagram Suppose that the market for candles is a competitive market

Economics

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Profit maximization in the cost-curve diagram Suppose that the market for candles is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.In the short run, at a market price of $20 per candle, this firm will choose to produce candles per day. On the previous graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $20 and the firm chooses to produce the quantity you already selected. Note: In the following question, you should enter a positive number in the numeric entry field. The area of this rectangle indicates that the firm's would be per day.