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Given the following information about a firm under perfect competition, the price of the product is $40 Marginal Average Average Rate of Total Marginal Total Revenue Revenue Cost Cost Total variable

Given the following information about a firm under perfect competition, the price of the product is $40 Marginal Average Average Rate of Total Marginal Total Revenue Revenue Cost Cost Total variable output cost cost 60 0 80 2 120 180 260 360 a-Complete the above table b- What is the profit-maximizing rate of output? Should the firm stay in the business? At which price should the firm shut down?

Feb 06 2020 View more View Less

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