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Application: 30. Pat's Pizza Kitchen is a price taker in a perfectly competitive market. It cost's are as follows: Output (Pizza per hour) Total cost
Application: 30. Pat's Pizza Kitchen is a price taker in a perfectly competitive market. It cost's are as follows: Output (Pizza per hour) Total cost (dollar per hour) 0 10 1 21 2 30 41 4 54 5 69 a. Using the total cost curve chart, calculate average cost and marginal cost. Draw the average and marginal cost curves? (Application: 4 Marks)
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