A manufacturer of electric switches in a competitive industry has a fixed monthly cost of $50,000, total monthly variable cost $100,000, and marginal cost of $5. What is the profit if the monthly production is 100,000 units? Assuming that prices of switches fluctuate from month to month, what is the  lowest price the manufacturer can accept in order to stay in business in the long run and in the short run. Will those prices be the same? Show your work

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