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You are hired as a consultant to a firm in a perfectly competitive market. The price of the product is USD 35. Fill-up the cost
You are hired as a consultant to a firm in a perfectly competitive market.
The price of the product is USD 35. Fill-up the cost schedule below.
What is the firm's profit maximizing level of output?
Q P TR TC PROFIT MR MC FC VC ATC AVC
0 35 _ 30 _ _ _ _ 0 _ _
1 _ _ 40 _ _ _ _ _ _ _
2 _ _ 55 _ _ _ _ _ _ _
3 _ _ 75 _ _ _ _ _ _ _
4 _ _ 100 _ _ _ _ _ _ _
5 _ _ 130 _ _ _ _ _ _ _
6 _ _ 165 _ _ _ _ _ _ _
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