Question
. (The Short-Run Firm Supply Curve) Use the following data to answer the questions below: See the textbook for the data... Q VC MC AVC
. (The Short-Run Firm Supply Curve) Use the following data to answer the questions
below: See the textbook for the data...
Q VC MC AVC
1 $10 $10 $10
2 $16 $16 $8
3 $20 $20 $6.67
4 $25 $6.25
5 $31 $6.2
6 $38 $6.33
7 $46 $6.57
8 $55 $8.13
9 $65 $7.22
a. Calculate the marginal cost and average variable cost for each level of production.
b. How much would the firm produce if it could sell its product for $5? For $7? For $10?
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