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3 Complete the following table and answer the questions 2 to 6 given below. (Use TR and TC approach). Given price = $40 per unit.
3 Complete the following table and answer the questions 2 to 6 given below. (Use TR and TC approach). Given price = $40 per unit. 10 marks Output TR TC MR PROFITS (units) ) (S) (S) (5) 0 0 90 40 -90 1 40 100 40 -60 2 80 110 40 -30 3 120 120 40 0 4 160 134 40 26 5 200 155 40 45 6 240 186 40 54 7 280 230 40 320 00 290 40 40 9 360 450 40 -90 10 400 750 40 -350 Q2 The break-even level of output occurs at ......3.... Q3 The total fixed cost (TFC) is.........90..... Q4 The firms will be getting losses when.......... Q5 Another break-even level of output may occur when output units are.. Q6 At profit maximizing output, per nit profits are
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