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Consider the following cost information for a firm that operates in a perfectly competitive market Q (quantity Total of cost output) ($ 0 6 2

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Consider the following cost information for a firm that operates in a perfectly competitive market Q (quantity Total of cost output) ($ 0 6 2 26 4 36 6 50 8 68 10 9 12 118 (1) Suppose that the market price is $9. Find the quantity of output that the firm should produce in the short run. (2) Suppose that the market price drops from $9 to $7. Find the quantity of output that the firm should produce in the short run

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