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Assume the table below shows how the marginal cost changes as the number of cup of coffee made by the coffeeshop per hour changes. Also,
Assume the table below shows how the marginal cost changes as the number of cup of coffee made by the coffeeshop per hour changes. Also, assume a fixed cost between 10 and 100. 1) Calculate how average variable costs and average total cost change for every production level between 1 and 12. 2) Find the profit maximizing output level for a price level you choose, and shutdown point. Calculate profit or loss level at those points. (Price level you choose should be above the shutdown point.)
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