Instructions: Type a price (between $20 and $70 ) into the Market Price box. Then, type a quantity (30140 ) into the Quantity box, or use the slider to adjust the quantity. The tool will calculate the MR, MC, total revenue, total cost, and economic profit from producing that quantity and selling at the market price. Click "Show Profit/Loss" above the graph to have the tool shade the firm's economic profits or losses. Assume the market price is $55. What are the firm's economic profits if it produces and sells 100 units? \$ Report your answer to two decimal places. Include a negative sign if the firm earns a loss. As the firm gradually increases its quantity from 100 to 120 , its average total cost As the firm gradually increases its quantity from 100 to 120 , its total cost , its total revenue , and its economic profit [ ]
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