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The data in the table to the right give the total cost, C , and marginal cost, M C , for a profit maximizing firm
The data in the table to the right give the total cost, and marginal cost, for a profit maximizing firm in a perfectly industry market at each possible level of output, qEnter all numeric responses using integers.
What is marginal revenue when the market price is $
$
What is marginal revenue when market price is $
$
What happens to the firm's output choice and profit if the price of the product falls from $ to $
If the market price falls from $ to $ then the firm's output will decrease from units to units.
Further, profit will from $ to $
tableMC
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