(a) Using the data from graph, calculate the firm's total profit. (b) If the firm operates at optimum efficiency, how much will its output be? (c) If the firm were a perfect competitor, how much will its price be in the long run? 
Definitions:
Finished Goods Inventories
Stocks of completed products awaiting sale or shipment, representing one of the critical components of a company's inventory.
Unique Needs
Specific requirements or preferences that differ among individuals or entities, often necessitating customized solutions.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
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