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for the number three it is suppose to be 190. Answer following True/False (2 points each): 1. T/F Profit-maximizing point can be found where Marginal

for the number three it is suppose to be 190.

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Answer following True/False (2 points each): 1. T/F Profit-maximizing point can be found where Marginal revenue is equal to Marginal cost. 2. T/F Total Cost is equal to fixed cost plus variable cost. 3. T/F Profit is equal to total revenue minus total cost. Finish filling out the cost in the following table: (14 points): Q TFC TVC Total Cost AFC AVC ATC Marginal Cost 0 $100 $0 --- 100 50 150 100 150 50 2 100 70 170 35 20 3 100 90 25 33.3 30 63.3 4 240 35 5 100 200 60 100 360 16.667 60 76.7 160

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