The first table shows cost data for a single firm. Now suppose that there are 600 identical firms in this industry, each with the same cost data. Suppose, too, that the demand curve for this industry is as shown in the second table. 
When the market is in equilibrium, each of the firms will be producing
Definitions:
Standard Normal Distribution
A probability distribution that has a mean of zero and a standard deviation of one, represented by the bell curve where most occurrences take place near the mean.
T Distribution
A distribution of probability applied to infer parameters of a population when the sample size is limited and the population's variance is not known.
Degrees Of Freedom
A statistical concept used to determine the number of independent pieces of information when estimating a parameter or fitting a model to data.
Normal Distribution
A bell-shaped frequency distribution curve, where most occurrences take place in the middle of the range and fewer occur on either side.
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