(Solved): 8. Use the graph below to answer the following questions: The market price =$5, the firm is produc ...

8. Use the graph below to answer the following questions: The market price $=\$5$, the firm is producing 20 units: a. Is the firm maximizing profit? b. If the firm is not maximizing profit, in order to increase profit, the firm should (increase/ decrease). (output/plant size).