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A perfectly competitive firm has the cost structure described in the following table. Total fixed costs are $100. Q Average Total Average Variable Marginal Cost

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A perfectly competitive firm has the cost structure described in the following table. Total fixed costs are $100. Q Average Total Average Variable Marginal Cost (ATC) Cost (AVC) Cost (MC) 0 1 140 40 40 2 83 33 26 3 62 28 20 4 53 25 25 5 49 29 35 6 45 32 45 7 50 37 65 8 56 43 90 9 63 52 120 10 72 62 155 a. Graph the marginal cost, average variable cost, and average total cost curves. | b. How many units of output will the firm produce at a market price of $120? Calculate the profit at this price. c. How many units of output will the firm produce at a market price of $45? Calculate the profit at this price. d. How many units of output will the firm produce at a market price of $25? Calculate the profit at this price

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