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Total Cost Marginal Cost (S/unit) Average Total Cost (S/unit) Output (Units) 0 10 20 30 40 SO 50 120 170 210 260 330 5 12

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Total Cost Marginal Cost (S/unit) Average Total Cost (S/unit) Output (Units) 0 10 20 30 40 SO 50 120 170 210 260 330 5 12 8.50 6,50 6.60 2. Consider the table above which gives us the MC and ATC of a fim in a perfectly competitive market a. If the prevailing market price is $7, what is the quantity that maximizes profit? b. What is the profit that this firm makes at price=57? In the long-run, how much profit will the firm make

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