Question: Suppose the price of a service sold in a perfectly competitive market, such as the agricultural market, is $25 per unit. For a firm in the market, the output level corresponding to a marginal cost of $25 per unit is 2000 units. AVC at this output level equal $15 per unit, and AFC equal $5 per unit. That is the firm's profit-maximizing (or loss minimizing)output level? What is the amount of its economic profits(or losses) at this output level? Show this graphically.