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The market for apple pies in the city of Ectenia is competitive and has the following demand schedule: S Each producer in the market has
The market for apple pies in the city of Ectenia is competitive and has the following demand schedule: S Each producer in the market has a fixed cost of 5 and the following marginal cost: Quantity Marginal Cost (Pies) {Doflars) 1 2 2 5 3 9 4 11 5 13 6 15 Complete the following table by computing the total cost and average total cost for each quantity produced. Quantity Total Cost Average Total Cost (Pies) {Dollars) {Dollars) o L] [ ] 2 ] [ ] : L] [ ] ] [ ] s [ | [ ] s [ ] [ ] The price of a pie is now $12
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