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The cost data in the following table are for Marshall's Meats, a perfectly competitive firm. Round your answers to 2 decimal places. Average Variable Marginal
The cost data in the following table are for Marshall's Meats, a perfectly competitive firm. Round your answers to 2 decimal places. Average Variable Marginal Output Cost Cost Total Cost 0 $115 145 2 165 3 195 4 228 5 285 6 350 467 a. Complete above the table. b. What is the shutdown price? Shutdown price: $ c. If the market price of the product is $57, what quantity will Marshall's Meats produce? What will be its profit or loss? Quantity: (Click to select) v : $ d. If the market price of the product is $20, what quantity will Marshall's Meats produce? What will be its profit or loss? Quantity: (Click to select) $ Break-even Profit Loss
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