Suppose a perfectly competitive firm is operating in short run. The information of MR, Q, ATC and AVC are 15 taka, 60 unit, 45taka and 35 taka respectively. Calculate firm’s profit/loss and total fixed cost. From these calculations and based on all the given information, can you conclude about the firm’s decision in short run? Explain your reasoning with the help of a suitable diagram. Show all the relevant information in your diagram.[Q=profit maximizing output and MR=marginal revenue]

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