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Marginal Cost The following table presents cost and revenue information for a firm operating in a competitive industry. COSTS Quantity Produced Total Cost REVENUES

Marginal Cost The following table presents cost and revenue information for a firm operating in a competitive industry. COSTS Quantity Produced Total Cost REVENUES Quantity Total Revenue Marginal Revenue Demanded Price 0 $100 0 $120 1 $150 1 $120 21 $202 $120 3 $257 3 $120 4 $317 4 $120 5 $385 5 $120 6 $465 6 $120 7 $562 7 $120 8 $682 8 $120

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