These costs -...

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These costs, along with the firm's total and marginal revenues and its profits for different levels of  output, are reported in Table 1  .  TABLE 1 Firm Output, Revenues, Costs, and Profits Total product Total revenue Marginal revenue Total cost Average total cost Marginal cost Firm profits 0 $0 $100 −$100 5 50 $10 120 $24.00 $4.0 −70 15 150 10 140 9.33 2.0 10 23 230 10 160 6.96 2.5 70 27 270 10 180 6.66 5.0 90 29 290 10 200 6.90 10.0 90 30 300 10 220 7.33 20.0 80 Because the price of the good is $10, the firm's total revenue is 10 × total product. The firm's 
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This note was uploaded on 11/19/2011 for the course ECO 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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