Fill in the following blanks.
If the current market demand is D1 then price will equal _______ dollars. The individual firm’s demand curve will be ________________ at a price of ________ dollars. Average revenue will be equal to ______ dollars. Marginal revenue will be equal to _____ dollars. The typical firm will produce _____ units of output. Its total revenue will equal ______ dollars. The firm will earn a profit / suffer a loss of _____ dollars . In the long run, the number of firms in the market increase / decrease , shifting the supply curve to the right / left, causing price to increase / decrease and profit to increase / decrease.
