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QUESTION 18 (4 Marks) The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. (DURY)

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QUESTION 18 (4 Marks) The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. (DURY) FOR THO 160 Output per day Price What is the total revenue of the profit-maximising firm in the short run? A. R720 B. R800 C. R960 D. R2 000

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