[Step-by-Step] Jerry's is one of many ice cream stands along the beach. The figure shows Jerry's cost curves. If the market price of an ice cream cone is $3,
Question: Jerry's is one of many ice cream stands along the beach. The figure shows Jerry's cost curves.
- If the market price of an ice cream cone is $3, what is Jerry's Profit maximizing output?
- calculate Jerry's profit.
- With no change in demand or technology, how will the price change in the long run?
Deliverable: Word Document 
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