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Suppose that Andy sells wooden hockey sticks in the perfectly competitive hockey stick market his output per day and his costs are as follows: Output
Suppose that Andy sells wooden hockey sticks in the perfectly competitive hockey stick market his output per day and his costs are as follows:
Output Per Day Total Fixed Cost Variable Average Average Total Cost Variable Cost Marginal Cost Cost Cost $8.00 $8 00 12.00 8 00 4.00 $12. 00 $4.00 4.00 16.00 8 00 8.00 8.00 7 17 7 13 7 80, 8 58 4.00 4 00 21.50 8 00 8 00 8 00 8 00 8 00 8 00 13.50 20 50 4.50 5.50 4. 28 50 5.13 7.00 39 00 31.00 6 20 10.50 6. 51.50 43.50 60 00 12.50 7. 68.00 971 Question Viewer 16.50 8. 89 00 81 00 11.13 10.13 21.00 6. 115 00 8.00 107 00 12 78 11.89 Suppose the equilibrium price of hockey sticks is $12 50. How many hockey sticks will Andy produce? 26.00 Andy will producehockey sticks (Round your response to the nearest whole number) What price will he charge? He will charge $ per hockey stick (Round your response to the nearest cent) How much profit (or loss) will he make? He will make $ per day (Round your response to the nearest cent)
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