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A profit maximising firm in a competitive market is currently producing 100 units of output. It has average revenue of $10 ,the average total cost
A profit maximising firm in a competitive market is currently producing 100 units of output. It has average revenue of $10 ,the average total cost is $8.fixed costs are $200.
a.what is profit?
b.What is marginal cost?
c.what is average variable cost ?
d.is the efficient scale of the firm more than, less than or exactly 100 units?
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