Graph 14-1 
This graph depicts the cost structure for a firm in a competitive market.Use the graph to answer the following question(s) .
-Refer to Graph 14-1.When market price is at MC4, a profit-maximising firm will produce what level of output?
Definitions:
Redox Reaction
A chemical reaction where the oxidation states of atoms are changed through the transfer of electrons.
Oxidation State
The measure of the degree of oxidation of an atom in a substance, indicating the number of electrons lost or gained by an atom.
Reaction
A chemical process in which substances interact to form new products typically characterized by a change in properties.
Oxidation State
A numerical value that signifies the total electrons an atom gains or sheds to establish a chemical bond with a different atom.
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