Graph 14-7 
In this graph, panel (a) depicts the linear marginal cost of a firm in a competitive market, and panel (b) depicts the linear market supply curve for a market with a fixed number of identical firms.Use the graph to answer the following question(s) .
-Refer to Graph 14-7.If at a market price of $1.50, 18 750 units of output are supplied to this market, how many identical firms are participating in this market?
Definitions:
Income Statement
a financial statement that summarizes a company's revenues, expenses, and profits over a specific period of time.
Cash Flows
The aggregate volume of funds moving into and out of a corporation, impacting its ability to cover short-term obligations.
Income Statement
A financial statement that shows the company's revenues and expenses over a specific period, indicating how the revenues are transformed into net income or loss.
Net Income
The total profit of a company after all expenses, including taxes, have been deducted from total revenue.
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