What is the cost minimizing output level for the firm

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Reference no: EM13243604

Global Investment Group operatesin a perfectly competitive industry with the following Cost andRevenue data:

Average Total Cost = $2.50; Quantity sold =9000 Units; Price Per Unit = $3.50; Marginal Revenue = $3.50;Marginal Cost = $3.50:

(a) What is the cost minimizing outputlevel for the firm?

(b) What is the Average Profit or Lossfor the firm?

Reference no: EM13243604

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