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Assume the price of basic white T - shirts in a perfectly competitive market is $ 2 1 and that the typical firm confronts the
Assume the price of basic white Tshirts in a perfectly competitive market is $ and that the typical firm confronts the following costs: O QuantityTshirts per dayTotal cost$$$$$$$$$$$
What is the profitmaximizing rate of output for the firm?
tshirts per dayHow much profit does the firm earn at that rate of output?
If the price of basic white Tshirts fell to $
how many Tshirts should the firm produce?
At what price should the firm shut down?
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