The perfectly competitive market profit mathematically given as
P = 131.76
What is the perfectly competitive market profit?
Generally, the equation for a perfectly competitive market is mathematically given as
P = MC
Therefore
P= ( P -ATC) * Q
Hence
P= ( 8.53 - 6.70) * 72
P = 131.76
In conclusion, a perfectly competitive market profit
P = 131.76
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