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The cost table provided below contains information for a rm operating in a competitive market. Use this information to answer the following questions. 0...... a
The cost table provided below contains information for a rm operating in a competitive market. Use this information to answer the following questions. 0...\"... a 9 _w9 0 {CC 1200 220.0 120 20 4 {CC 1344 167.4 96 68 6 {CC 1536 158.5 96 128 8 {CC 1872 159.6 212 20 {CC 2400 120.0 21 'th -?8.6 22 cc 23 CI: 365? 24 CC 4224 25 CC 4825 9 \fUse the provided to gure to answer the following question. Marginal Cost and Average Cost Functions L) Costs a Li ATE: ' :c_ - AVE E) MC Quantity A Assume the firm operates in a competitive market and that the current market price is $32 per unit. Fixed costs are $1JUUU. Determine the quantity that the rm would produce in this market. What are prots for this rm
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