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Suppose Veronica sells teapots in the perfectly competitive teapot market. Her output per day and her costs are as follows: Output per Day Total Cost
Suppose Veronica sells teapots in the perfectly competitive teapot market. Her output per day and her costs are as follows:
Output per Day
Total Cost
0
$20
1
32
2
37
3
48
4
61
5
75
6
92
7
113
8
136
Suppose the current equilibrium price in the teapot market is $10. To maximize profit (or minimize loss),Veronica will produce a quantity of _____ teapots.
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