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What is average variable cost

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A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed costs of $200.

a. What is profit?

b. What is marginal cost?

c. What is average variable cost?

d. Is the efficient scale of the firm more than, less than, or exactly 100 units?

Reference no: EM132511857

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