Question

Suppose that the market for blenders 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 $50 per blender, this firm will choose to produce _______  blenders 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 $50 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