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Price elasticity of demand and Perfect Competition Table 1. Quantity of tomatoes and marginal cost Quantity of organic tomatoes Marginal cost 0 $0 10 $2

Price elasticity of demand and Perfect Competition Table 1. Quantity of tomatoes and marginal cost Quantity of organic tomatoes Marginal cost 0 $0 10 $2 20 $4 30 $6 40 $8 50 $12 Assume the fixed cost is $140. Referring to Table 1 above, calculate producer's average total cost in Table 2 above and answer the following questions. When quantity of organic tomato is 10, the average cost is $ . When quantity of organic tomato is 20, the average cost is $ . When quantity of organic tomato is 30, the average cost is $ . When quantity of organic tomato is 40, the average cost is $

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