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Paulina sells beef in a perfectly competitive market where the price is $6 per pound. Her total revenue and total costs are given in the

Paulina sells beef in a perfectly competitive market where the price is $6 per pound. Her total revenue and total costs are given in the table below.

[table information]

Quantity of beef (lb.)0,1,2,3,4,

Total revenue ($) 0,6,12,18,24

Total cost ($)9,11,12,18,25

Profit ($) ?

Marginal revenue ($)?

Marginal cost ($)?

Instructions:Enter your answers as a whole number. In part (b) use decimal places where needed.If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.

a. Complete the table by filling in the values for profit, marginal revenue, and marginal cost.

b. Paulinia's firm's total fixed cost is $.

c. If Paulinaproduces 2 pounds of beef, the average total cost (ATC) will be$.

Average fixed cost (AFC) will be$, andaverage variable cost (AVC)$.

d. What is this firm's profit-maximizing (or loss-minimizing) output level?pounds

e. At this output level, the firm's total profit is$.

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