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You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table:

Q TFC TVC TC
0 30 0 30
1 30 70 100
2 30 120 150
3 30 150 180
4 30 190 220
5 30 270 300
6 30 360 390

Complete the following table:
Market Price Profit maximizing
level of output TR TC Profit
$48
$52
$75
$85

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M940924

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