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Q. a profit - maximizing industry in a competitive market is currently producing 100 units of output. it has average income of $10, average total cost of $8 and fixed costs of %200

a. Illustrate what is profit ?

b. Illustrate what is marginal cost?

c. Illustrate what is average variable cost?

d. is efficient scale of industry more than, less than, or exactly 100 unit ?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9293139

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