9.3. A firm sells a product in a perfectly competitive market, at a price of $50. The
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9.3. A firm sells a product in a perfectly competitive market, at a price of $50. The firm has a fixed cost of $30.
Fill in the following table and indicate the level of output that maximizes profit. How would the profit-maximizing choice of output change if the fixed cost increased from
$40 to $60? More generally, explain how the level of fixed cost affects the choice of output.
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