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The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve is upward sloping and this fir
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Answer #1

Profit is equal P-ATC where P= MC.

The maximum difference between p= 15 and ATC can be reached when ATC is minimum.

ATC is minimum at 10.

Maximum profit per unit = P-ATC = 15-10= 5

So profit will be less than 5.

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