(25 total points). You are given the following information about the cost of a perfectly competitive
Question: (25 total points). You are given the following information about the cost of a perfectly competitive firm.
| Quantity | FC | VC |
| 0 | 45 | 0 |
| 1 | 45 | 20 |
| 2 | 45 | 35 |
| 3 | 45 | 45 |
| 4 | 45 | 75 |
| 5 | 45 | 120 |
| 6 | 45 | 180 |
You are hired to determine the profit maximizing quantity of the firm for different market prices. Complete the table below.
| Market Price | Profit maximizing level of output | Total Revenue | Total Cost | Profit |
| $14 | ||||
| $18 | ||||
| $44 | ||||
| $53 | ||||
| $70 |
Price: $2.99
Solution: The solution consists of 2 pages
Deliverable: Word Document
Deliverable: Word Document
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Math Solutions
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Math and Statistics Answers
