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(c) Suppose a competitive firm is selling a product for RM10 with total fixed cost of RM50. In addition, the variable cost as the table

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(c) Suppose a competitive firm is selling a product for RM10 with total fixed cost of RM50. In addition, the variable cost as the table below. Compute total cost, marginal cost, average variable cost, average total cost and identify the output for profit maximization. Quantity Total variable cost 0 0 30 2 50 60 4 68 5 80 6 100 7 130 8 165 9 220 (10 marks)

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