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How much output will the firm choose to produce

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Reference no: EM131719155

(a)  Fill in the table below and answer the following questions.  Show your step-by-step calculations either by typing them in the text box below or by submitting a photo of your handwritten calculations to the Drop Box.

(b) How much output will the firm choose to produce?  Explain why the firm chooses this level of output.

Quantity

Price

Total Revenue

Total Cost

Profit

Marginal Revenue

Marginal Cost

0

$10

 

2

 

 

 

1

$10

 

4

 

 

 

2

$10

 

7

 

 

 

3

$10

 

11

 

 

 

4

$10

 

17

 

 

 

5

$10

 

30

 

 

 

 

Reference no: EM131719155

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