Module 5 chp 24 number 1 part a.

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

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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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This note was uploaded on 08/04/2011 for the course ECN 601 taught by Professor Professor during the Spring '10 term at Grand Canyon.

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

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