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The table at right represents the hourly output and cost structure for a local pizza shop. The market is perfectly?competitive, and the market price of
The table at right represents the hourly output and cost structure for a local pizza shop. The market is perfectly?competitive, and the market price of a pizza in the area is ?$10. Total costs include all implicit opportunity costs.
Calculate the total revenue and total economic profit for this pizza shop at each rate of output and fill in the blanks in the table.
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