Use the figure below to answer the following questions. 
Figure 1A.3.4
-Refer to Figure 1A.3.4.In Figure 1A.3.4,the slope at point B
Definitions:
Equilibrium Price
The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market balance.
Competitive Price-Taker
A firm or individual that has no influence over the market price and must accept the prevailing market price for its product or input.
Profit
The financial gain made in a transaction or operation, calculated as the difference between the revenue earned and the costs incurred.
Competitive Price-Taker
A company that lacks the authority to influence the market price and is therefore compelled to agree to the existing market price for its goods.
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