Price P4 P3 P2 P1 0 Q1 Q2 Q3 Q4 Q5 Quantity MC ATC AVC MR4 MR3 MR2 MR1
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A firm in a competitive market has the following cost structure as shown in the figure below: If the firm's fixed cost of production is $3, and the market price is $10, how many units should the firm produce to maximize profit? ATC $10 $10 Select one: a. 3 units b. 4 units c. 2 units d. 1 unit
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