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Refer to the table below. Quantity Variable Cost (in dollars) Fixed Costs (in dollars) Total Costs (in dollars) AverageVariable Costs (in dollars per unit) Average
Refer to the table below.
Quantity | Variable Cost (in dollars) | Fixed Costs (in dollars) | Total Costs (in dollars) | AverageVariable Costs (in dollars per unit) | Average Total Costs (in dollars per unit) | Marginal Costs (in dollars per unit) |
0 | 0 | 40 | 40 | - - | - - | - - |
1 | 15 | 40 | 55 | 15 | 55 | 15 |
2 | 35 | 40 | 75 | 17.5 | 37.5 | 20 |
3 | 60 | 40 | 100 | 20 | 33.3 | 25 |
4 | 90 | 40 | 130 | 22.5 | 32.5 | 30 |
5 | 125 | 40 | 165 | 25 | 33 | 35 |
6 | 160 | 40 | 200 | 26.6 | 33.3 | 35 |
If the firm produces 5 units that it sells at a price of $30.00 each, what will its profits or losses equal?
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