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Herriott's is the only veterinary clinic in a remote village. The firm's total fixed cost is $100 a day and its marginal cost is zero.
Herriott's is the only veterinary clinic in a remote village. The firm's total fixed cost is $100 a day and its marginal cost is zero. The table gives the demand schedule for visits. Price Quantity (dollars per visit) (visits per day) 100 0 80 2 60 4 40 6 20 8 0 10 Draw the firm's demand curve. Label it D. Draw the firm's marginal revenue curve. Label it MR. Draw the firm's marginal cost curve. Label it MC. Draw a point at the profit-maximizing price and output. Part 2 What is Herriot's economic profit? Herriot's economic profit is $ enter your response here a day
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