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Hi! Please help me answer my homework. Thank you :) 6. Figure I shows marginal cost, average cost, and average revenue for a particular firm

Hi! Please help me answer my homework. Thank you :)

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6. Figure I shows marginal cost, average cost, and average revenue for a particular firm operating in a perfectly competitive market. The firm wishes to operate so as to maximize its profit. Underline the letter that corresponds to the right answer. (7 points) Figure 1 AR, AC, MC MC AC S B - AR m F Quantity G H K 6.1 At what level of output will the firm operate? (a) OG (b) OH (c) OJ (d) OK (e) BO. 6.2 Which of the following correctly indicates the price at which it would sell its product? (a) OG (b) DO (C) BF (d) OK (e) BO. 6.3 Which correctly indicates the level of average cost at this maximum-profit output? (a) PH (b) VJ (c) SK (d) DV (e) EW. 6.4 Which correctly indicates the level of marginal cost at the maximum-profit output? (a) OG (b) DO (c) BF (d) OK (e) BO 6.5 Which rectangle correctly indicates the total cost of producing the maximum-profit output? (a) DVJO (b) BOJO (c) BPHO (d) BSKO (e) EWHO. 6.6 Which rectangle correctly indicates the firm's total revenue at the maximum-profit output? (a) DVJO (b) BQJO (c) BPHO (d) BSKO (e) EWHO 6.7 Which rectangle correctly indicates total profit earned at this output? (a) BOJO (b) DVJO (c) BQVD (d) BPHO (e) None

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