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Price MC ATC AVC $10 D. MROAR 56 SA 18 25 40 1. Identify the profit-maximizing output level and explain why that output level is

Price MC ATC AVC $10 D. MROAR 56 SA 18 25 40 1. Identify the profit-maximizing output level and explain why that output level is indeed profit-maximizing 2. From your answer in #1 how much pure economic profit is being earned by this firm if any? Show your work. 3. Is this firm making an operating profit and if so how do you know? 4. If the price fell to $7, what would be the profit-maximizing output level that the firm should produce and why? 5. From your answer in #4 what is the new level of economic profit if any? Show your work

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