If each of 200 identical firms supplies 30 units at a price of \$15, what is the total market supply?

Evaluate the significance of the condition P = ATC in a competitive market.

In the long run, why do firms earn zero economic profit even if they have positive accounting profits?

How do graphs help visualize the transition from short-run to long-run market supply?

In a perfectly competitive market, how does the long-run supply curve ensure equilibrium?

How do non-monetary opportunity costs affect economic profit in the long run?

In a perfectly competitive market, how does the long-run supply curve ensure that supply meets demand at equilibrium prices?

What happens to the supply curve and price levels when firms exit the market due to losses?

Why do individual firms' supply curves coincide with their marginal cost curves in the short run?

Synthesize the relationship between marginal cost and supply curve for a firm in the short run.