pcap2 - Additional Problem 2: Pure Competition 1. Using the...

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Additional Problem 2: Pure Competition 1. Using the following information, complete the table below. Q TC MC P MR AR TR Total Profit 0 $10 $10 16 24 35 47 51 0 61 4 71 9 82 5 93 2 a) Determine the price and output selection for this purely competitive firm. Is this a short-run or long-run equilibrium? Why? b) Utilizing the TR and TC approach to graphically illustrate the equilibrium results for this firm.
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2 c) Calculate the ATC and AVC for this firm.
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This note was uploaded on 10/26/2009 for the course ECON 180-004-20 taught by Professor Bresnock during the Fall '09 term at UCLA.

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pcap2 - Additional Problem 2: Pure Competition 1. Using the...

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