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Suppose you are the operator of a firm with the following short-run schedule of output and total cost. What is your firms total fixed
Suppose you are the operator of a firm with the following short-run schedule of output and total cost. What is your firms total fixed cost? b. What is your firms total variable cost in producing 4000 units of output? c. How much of this product would you produce at a market price of $2.50 per unit? d. How much (if any) economic profit would you earn if the market price were $10 per unit? Output (units) Total Cost 0 $10,000 1000 $15,000 2000 $25,000 3000 $40,000 4000 $60,000 5000 $90,000 6000 $130,000
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