The graph below shows data for the production of oranges for an individual firm operating in a perfectly competitive market.

Graphing window shows horizontal axis: 0 to 80, vertical axis: -10 to 320. Start Graph, Color blue

x	y
10	60
9	54
8	48
7	42
6	36
5	30
4	24
3	18
2	12
1	6
-0	-0

Start Graph, Color blue

x	y
20	120
19	114
18	108
17	102
16	96
15	90
14	84
13	78
12	72
11	66
10	60

Start Graph, Color blue

x	y
30	180
29	174
28	168
27	162
26	156
25	150
24	144
23	138
22	132
21	126
20	120

Start Graph, Color blue

x	y
40	240
39	234
38	228
37	222
36	216
35	210
34	204
33	198
32	192
31	186
30	180

Start Graph, Color blue

x	y
50	300
49	294
48	288
47	282
46	276
45	270
44	264
43	258
42	252
41	246
40	240

Start Graph, Color blue

x	y
60	360
59	354
58	348
57	342
56	336
55	330
54	324
53	318
52	312
51	306
50	300

Start Graph, Color blue

x	y
70	420
69	414
68	408
67	402
66	396
65	390
64	384
63	378
62	372
61	366
60	360

Start Graph, Color blue

x	y
80	480
79	474
78	468
77	462
76	456
75	450
74	444
73	438
72	432
71	426
70	420

Graphing window shows horizontal axis: 0 to 80, vertical axis: -10 to 320. Start Graph, Color red

x	y
10	30
9	28
8	26
7	24
6	22
5	20
4	18
3	16
2	14
1	12
-0	10

Start Graph, Color red

x	y
20	40
19	39
18	38
17	37
16	36
15	35
14	34
13	33
12	32
11	31
10	30

Start Graph, Color red

x	y
30	60
29	58
28	56
27	54
26	52
25	50
24	48
23	46
22	44
21	42
20	40

Start Graph, Color red

x	y
40	90
39	87
38	84
37	81
36	78
35	75
34	72
33	69
32	66
31	63
30	60

Start Graph, Color red

x	y
50	130
49	126
48	122
47	118
46	114
45	110
44	106
43	102
42	98
41	94
40	90

Start Graph, Color red

x	y
60	180
59	175
58	170
57	165
56	160
55	155
54	150
53	145
52	140
51	135
50	130

Start Graph, Color red

x	y
70	240
69	234
68	228
67	222
66	216
65	210
64	204
63	198
62	192
61	186
60	180

Start Graph, Color red

x	y
80	310
79	303
78	296
77	289
76	282
75	275
74	268
73	261
72	254
71	247
70	240

Graphing window shows horizontal axis: 0 to 80, vertical axis: -10 to 320. Start Graph, Color black

x	y
10	30
9	26
8	22
7	18
6	14
5	10
4	6
3	2
2	-2
1	-6
-0	-10

Start Graph, Color black

x	y
20	80
19	75
18	70
17	65
16	60
15	55
14	50
13	45
12	40
11	35
10	30

Start Graph, Color black

x	y
30	120
29	116
28	112
27	108
26	104
25	100
24	96
23	92
22	88
21	84
20	80

Start Graph, Color black

x	y
40	150
39	147
38	144
37	141
36	138
35	135
34	132
33	129
32	126
31	123
30	120

Start Graph, Color black

x	y
50	170
49	168
48	166
47	164
46	162
45	160
44	158
43	156
42	154
41	152
40	150

Start Graph, Color black

x	y
60	180
59	179
58	178
57	177
56	176
55	175
54	174
53	173
52	172
51	171
50	170

Start Graph, Color black

x	y
70	180
69	180
68	180
67	180
66	180
65	180
64	180
63	180
62	180
61	180
60	180

Start Graph, Color black

x	y
80	170
79	171
78	172
77	173
76	174
75	175
74	176
73	177
72	178
71	179
70	180

Label "Quantity of oranges" at pixel coordinates (175,0).Label "$" at pixel coordinates (0,170).

The red line shows:

 

Hint

The blue line shows:

 

Hint

The black line shows:

 

Hint

At what quantity does this firm maximize its profit?

NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities!

 

Hint