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MNU ECON 6003: Managerial Economics Homework #5 - 30 points Chapter 11: Managerial Decisions in Competitive Markets 1. (16 points) A perfectly competitive firm faces

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MNU ECON 6003: Managerial Economics Homework #5 - 30 points Chapter 11: Managerial Decisions in Competitive Markets 1. (16 points) A perfectly competitive firm faces a market-determined price of $25 for its 7 Marginal Marginal total cost cost revenue product. a. (6 points) The rm's total costs are given in the schedule above. Fill in columns 3 and 4 for average total cost and marginal cost

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