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Question 4 . A firm's cost curves are given in the following table. TC TFC TVC AVC ATC MC O $100 $100 130 100 N
Question 4 . A firm's cost curves are given in the following table. TC TFC TVC AVC ATC MC O $100 $100 130 100 N 150 100 160 100 172 100 185 100 210 100 240 100 280 100 ND D0 330 100 10 390 100 Complete the table above. ii) Graph AVC , ATC, and MC on the same graph. iii) Suppose market price is $30. How much will the firm produce in the short run? How much are total revenue? iv) Suppose market price is $50. How much will the firm produce in the short run? What are total profits
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