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with explanation would be great 5. Assume that Firm A is a perfectly competitive firm. The table below shows the production cost of Firm A:

with explanation would be great

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5. Assume that Firm A is a perfectly competitive firm. The table below shows the production cost of Firm A: Quantity Total Total Total Average Average Margina of Output Fixed Variable Cost Total Variable I Cost (Unit) Cost Cost (RM) Cost Cost (RM) (RM) (RM) (RM) (RM) 0 50 ( 80 80 30 30 55 52.5 27.5 25 85 135 28.33 30 125 175 43.75 40 UI A 170 220 44 34 () (a) Repr(a) Reproduce the table above and compute the missing values. (6 marks) (b) Explain whether Firm A is operating in the short run or long run production. (3 marks) (c) Determine the profit maximising or loss minimising level of output if the market price of the product is RM40. (3 marks) (d) Based on your answer in part (c), discuss whether Firm A should continue to operate in the short run

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