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With the highly anticipated release of the latest Star Wars film, fans wish to relive the glory of the previous movies. As a result, a
With the highly anticipated release of the latest Star Wars film, fans wish to relive the glory of the previous movies. As a result, a perfectly competitive market for Star Wars DVD box sets has formed. George is a producer in this market, and has total fixed costs of $180. Other data relating to costs and output are shown in the table below: Quantity Average Total Cost (box sets) ATC ($/box set) 0 - 10 23.5 20 14 30 10.40 40 10.50 50 10.70 Using this information, calculate what quantity George needs to produce so that his average variable cost is $7.10 per box set? Answer to the nearest whole number (with no decimal places)
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