C. If this industry were competitive, this firm’s price would equal $
xSZ/Us/cKpk= output, which would equal $
JoQe9jfeWso= million, and profit would equal $
IscUCRIchlY= million.
Under perfect competition, the output produced is where P = MC. Here, P = MC at $30, and the corresponding output is 100 million. Profit is total revenue (P x output) minus total cost (ATC x output), but since P = ATC, total revenue and total cost are the same, resulting in zero profit.