A firm faces a standard downward-sloping linear demand curve and has total costs that increase as more units are produced. If the firm were to calculate its profit at every possible quantity along the demand curve and plot these profit values against the quantity, what would be the most likely shape of the resulting profit function graph?
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A firm faces a standard downward-sloping linear demand curve and has total costs that increase as more units are produced. If the firm were to calculate its profit at every possible quantity along the demand curve and plot these profit values against the quantity, what would be the most likely shape of the resulting profit function graph?