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In the table below are cost functions of a firm operating in a perfectly competitive market a- Calculate the missing values (Fixed cost variable cost,
In the table below are cost functions of a firm operating in a perfectly competitive market a- Calculate the missing values (Fixed cost variable cost, total cost average total cost average fixed cost average variable cost and marginal cost) on your answer sheet (15 points) b- What is the breakeven price? (5 points) C- What is the shutdown price? (5 points) d- If the market price is 95 USD What will be the quantity that maximizes the profit of the firm? (5 points) 1 ii. Calculate the corresponding profit. (5 points) In the table below are cost functions of a firm operating in a perfectly competitive market a- Calculate the missing values (Fixed cost variable cost, total cost average total cost average fixed cost average variable cost and marginal cost) on your answer sheet (15 points) b- What is the breakeven price? (5 points) C- What is the shutdown price? (5 points) d- If the market price is 95 USD What will be the quantity that maximizes the profit of the firm? (5 points) 1 ii. Calculate the corresponding profit. (5 points)
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