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Module 5 chp 24 number 1 part a.

# Module 5 chp 24 number 1 part a. - total cost(ATC The ATC...

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The firm is selling in a perfectly competitive market. Fill in the blank columns. What is the minimum price needed by the firm to break even? Fixed Vairable Total Output Cost AFC Cost AVC Cost 1 \$50.00 \$50.00 \$30.00 \$30.00 \$80.00 2 \$50.00 \$25.00 \$50.00 \$25.00 \$100.00 3 \$50.00 \$16.67 \$80.00 \$26.67 \$130.00 4 \$50.00 \$12.50 \$120.00 \$30.00 \$170.00 5 \$50.00 \$10.00 \$170.00 \$34.00 \$220.00 For a perfectly competitive market, break even output occurs at the point where the price is equ

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Unformatted text preview: total cost (ATC). The ATC is at its minimum of \$42.50 when the output is 4 units. Therefore, the needed by the firm to break-even is \$42.50 (at 4 units of output). ATC MC \$80.00 \$30.00 \$50.00 \$20.00 \$43.33 \$30.00 \$42.50 \$40.00 \$44.00 \$50.00 ual to the average e minimum price...
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Module 5 chp 24 number 1 part a. - total cost(ATC The ATC...

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