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c) Suppose market price is RM20. How much will the firm produce in the short run? How much are total profits? (2 marks) P.S. Give

c) Suppose market price is RM20. How much will the firm produce in the short run? How much are total profits? (2 marks) P.S. Give full working calculation please.

Question 1 A firm's costs are given in the following table. TC TFC TVC AVC ATC MC RM50 70 AW NHO 80 90 110 140 175 220 280 360 10 450

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