2. Table below refers to a PC firm. Firm Quantity Price Total Marginal Total Marginal profit Marginal

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2. Table below refers to a PC firm. Firm Quantity Price Total Marginal Total Marginal profit Marginal |ATC produced per Revenue revenue cost cost profit unit 0 $120 0 100 1 $120 120 150 2 $120 202 3 $120 257 $120 317 5 $120 385 6 $120 465 7 $120 562 8 $120 682 9 $120 812 a) Complete the table. b) What is the profit-maximizing output? c) What is the relationship between price, marginal revenue and marginal cost at the profit maximizing level of output? d) If the P were RM80, should the firm continue to operate? Why or why not? e) Draw the firm's short run SS curve

Posted Date: Jun 21, 2024 07:10 PM

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2. Table below refers to a PC firm. Firm Quantity Price Total Marginal Total Marginal profit Marginal

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