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3. (8 Total Points) A firm that manufactures golf balls operates in a perfectly competitive industry. Suppose the costs of producing golf balls are given

3. (8 Total Points) A firm that manufactures golf balls operates in a perfectly competitive industry. Suppose the costs of producing golf balls are given in the following table: Quantity Total Fixed Variable Average Average Average Marginal Cost Cost Cost Total Fixed Variable Cost Cost Cost Cost 0 6 6 0 1 12 2 4 5 24 6 18

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