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Complete the table below based on a price of $6 per unit for the output, a cost of $10 per unit of variable input, and
Complete the table below based on a price of $6 per unit for the output, a cost of $10 per unit of variable input, and a total fixed cost of $200. Once completed answer the questions that follow. Variable Total Total Total Average Average Average Total Input Output Variable Fixed Variable Fixed Total Profit Costs Cost Cost Revenue Cost Cost Cost 10 35 100 200 300 10 20 30 210 20 75 200 200 400 10 10 20 450 50 30 105 300 200 500 10 6.67 16.67 630 130 40 130 400 200 600 10 5 15 780 180 50 140 500 200 700 10 4 14 840 140 -90 17. Based on 40 units of input, to continue production in the long run, the output price must be qual to or above what price level? Answer to two decimal places. 18. Based on 40 units of input, production should stop whenever the output price falls below what? Answer to two decimal places
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