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1. The following table shows production and total cost for Company A. Total Average Marginal Marginal Quantity Total cost Average revenue cost cost Revenue Revenue
1. The following table shows production and total cost for Company A. Total Average Marginal Marginal Quantity Total cost Average revenue cost cost Revenue Revenue 9 20 18 40 3 27 60 4 36 80 Ln 45 100 6 54 120 63 140 8 72 160 9 31 180 10 90 200 I. Fill up the table. Il. Find the price from above table Ill. Determine the equilibrium price and output to maximize profit of the output. IV. Calculate the profit at the maximization output V. In which type of market structure is the firm operating in? State your reason. VI. Is this firm operating in short run or long run? State your reason
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