(Answered) Output fc afc vc avc tc atc mc1 50 50 30 30 80 802 50 25 50

Economics

Output FC AFC VC AVC TC ATC MC

1 $50 $50 $30 $30 $80 $80

2 $50 $25 $50 $25 $100 $50 $20

3 $50 $17 $80 $27 $130 $43.33 $30

4 $50 $13 $120 $30 $170 $42.50 $40

5 $50 $10 $170 $34 $220 $44 $50

At a price of $40, what output level would the firm produce? What would its profits be?

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