6. A firm's short-run cost curves for producing gizmos are shown below. MC ATC AVC D=P=MR=AR q1 Assume gizmos are produced in a constant-cost market and they are selling for a price of p. a) Using the labeling on the graph, identify the area of revenue. b) Will the price of a gizmo increase, decrease, or stay the same in the long-run? Explain. c) will the market quantity increase, decrease, or stay the same in the long-run? Explain. the oroductively efficient quantity on this graph less than ol equal to al or greater

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Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.