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The data in the following table give information about the price P (in dollars) for which a rm can sell a unit of output and
The data in the following table give information about the price P (in dollars) for which a rm can sell a unit of output and the total cost of production, where quantity is q, total cost is C, marginal cost is MC, total revenue is R, marginal revenue is MR, and prot is 1:. Fill in the blanks in the following table. (Enter your responses using integers.) P = 48 P = 42 q 0 MC R MR 1: R MR 1: 0 100 - o - 100 o 100 1 150 50 48 48 - 102 42 42 108 2 178 28 96 48 82 84 42 94 3 198 20 144 48 - 54 126 42 - 72 4 212 14 192 48 20 168 42 44 5 230 18 240 48 10 210 42 - 20 6 250 20 288 48 38 252 42 2 7 272 22 336 48 64 294 42 22 8 310 38 384 48 74 336 42 28 9 355 45 432 48 77 378 42 23 10 410 55 480 48 70 420 42 1o 11 475 65 528 48 53 462 42 - 13 Show what happens to the rm's output choice and prot if the price of the product falls from $48 to $42. If the market price falls from $48 to $42, then the rm's output will ll from units to units. (Enter your responses using integers.) Further, prot will V from $ to $ . (Enter your responses using integers.)
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