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(See Solution) You are given the following cost and revenue information for Cindy's Candles, a perfectly competitive firm at its current level of output. AFC

Question: You are given the following cost and revenue information for Cindy's Candles, a perfectly competitive firm at its current level of output. AFC = 4, ATC = 10, TVC = 600, MC = 10, TR = 1200. (2 marks)

What is the amount of profit or loss?
Is the firm producing at its optimal level? If not, should it increase or decrease output?

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(See Solution) You are given the following cost and revenue information for Cindy's Candles, a perfectly competitive firm at its current level of output. AFC

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