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Tunica sells widgets in a perfectly competitive market. Below are its short-run total variable costs at different output levels. The firm's fixed cost is $12.

Tunica sells widgets in a perfectly competitive market. Below are its short-run total variable costs at different output levels. The firm's fixed cost is $12. The market price for one widget is $14.

Units Total Variable Cost $0 $12 2 $25 $60 4 $120 $200 $300

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