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on 26 ered ATC ed out of AVC, ATC,MC AVC tion 19 28 37 9 10 11 12 13 14 Output per period 46 The

on 26 ered ATC ed out of AVC, ATC,MC AVC tion 19 28 37 9 10 11 12 13 14 Output per period 46 The Competitive Industry and Firm Refer to the figure above to answer this question for a representative firm in a perfectly competitive market. Suppose that the Finish market price is $70. What is the profit-maximizing (or loss-minimizing) output? Time O a. 5 O b. 3 O C. 7 Od. 9

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