A firm has calculated its total profit for every possible quantity it can sell and has plotted this relationship on a graph. If the firm is currently producing at a quantity where this profit graph is downward-sloping, it should increase its production to increase its total profit.
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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?