(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:
Oxidation Number
A concept in chemistry representing the degree of oxidation (loss of electrons) of an atom in a chemical compound.
Chemical Reaction
A process that leads to the chemical transformation of one set of chemical substances to another, characterized by the breaking and forming of bonds between atoms.
Oxidation State
A measure of the degree of oxidation of an atom in a compound, indicating the number of electrons lost or gained.
Oxidation
Oxidation is a chemical reaction involving the loss of electrons by an atom, molecule, or ion.
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