The average revenue when 14 units are produced and sold isSuppose that a firm in

The average revenue when 14 units are produced and sold isSuppose that a firm in a competitive market faces the following revenues and costs:The firm will not produce an output level beyondSuppose a firm operating in a competitive market has the following cost curves:In the short run if the market price is higher than P1 but less than P4 individual firms in a competitive industry will earn.Suppose a firm operating in a competitive market has the following cost curves:The firm will exit the market for any price on the line segmentIf the market starts in equilibrium at point C in panel (b) a decrease in demand will ultimately lead to