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2. (a) Referring to the data from question 1, draw the firm's average and marginal cost curves on the following diagram. (Remember to plot MC
2. (a) Referring to the data from question 1, draw the firm's average and marginal cost curves on the following diagram. (Remember to plot MC mid-way between the quantity figures.) 140 120 100 80 Costs (E) 60 40 20 0 0 2 3 4 5 6 7 8 9 10 Output1. (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.) Output TC (E) AC (E) MC (E) 55 85 110 130 . . . . . . . 40 0 0) U A W N - O 42 280 90 . . . .... . . . .... 110 - . . . . . . 610 . . . .. . . 150 10
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