Question

 Suppose that the market for cashmere sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.

 Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point.

 In the short run, at a market price of $45 per sweater, this firm will choose to produce _______  sweaters per day.

 On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $45 and the firm chooses to produce the quantity you already selected.

 Note: In the following question, enter a positive number, even if it represents a loss.

 The area of this rectangle indicates that the firm's _______  would be _______  thousand per day in the short run.

Answer 1