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Graph below shows the cost curves for a perfectly competitive firm (its total fixed costs are $9,000) 100 Revenues, costs 20 10 100 300 300

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Graph below shows the cost curves for a perfectly competitive firm (its total fixed costs are $9,000) 100 Revenues, costs 20 10 100 300 300 400 500 600 006 000 O O On the basis of above graph complete the below table. For columns 2, 3, 4, and 5 you need answer only yes or no. (2) (3) (5) (6) (7) (8) What is What average what is O Price Is Can the firm quantity profit at its ($) > AC? will the will it make a profit? P > AVC? this total firm produce? produce? quantity ($)? profit? O Yes Yes Yes Yes Yes Yes Yos Yes 25 Yes Yes No No No No G

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