Refer to the accompanying graph. 
a. What is the profit-maximizing quantity, assuming this market is in long-run equilibrium?
b. What is the price in this market, assuming it is in long-run equilibrium?
c. What is the total revenue if this firm is in long-run equilibrium?
Definitions:
Contingency Thinking
A reasoning approach that involves considering multiple potential actions or outcomes in decision-making, recognizing that different conditions require different solutions.
Outside The Box Thinking
A creative thinking process that involves looking beyond conventional solutions and considering novel or unconventional approaches to solving problems.
Reciprocal Thinking
The consideration of mutual perspectives, understanding that thoughts, feelings, and actions can be influenced by and can influence others'.
Different Cultures
The diverse sets of customs, traditions, beliefs, and values that distinguish one group of people from another.
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