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You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given

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You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table: Q TVC 0 0 1 100 2 175 3 225 4 305 5 415 Complete the following table: Market Price Profit maximizing level of output Profit $70 30 $77 3 -24 $85 4 5 $105 4 85

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