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C MC q The data in the table to the right give the total cost, C, and marginal cost, MC, for a firm at each
C MC q The data in the table to the right give the total cost, C, and marginal cost, MC, for a firm at each possible level of output, q. (Enter all numeric responses using 100 integers.) 150 50 What is marginal revenue when the market price is $62? 178 28 198 20 MR = $ 62 212 14 230 18 What is marginal revenue when market price is $46? SOOTOUAWN- 250 20 MR = $ 46 272 22 What happens to the firm's output choice and profit if the price of the product falls from $62 to $46. 310 38 from units to ]units. 355 45 If the market price falls from $62 to $46, then the firm's output will 410 55 11 475 65 Further, profit will from $ to $]. increase decrease
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