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Unformatted text preview: (2 points) If the cake making industry is perfectly competitive and the market price for this type of cakes is $50, how many cakes will Mary produce? Why? (2 points) What are Marys profits or losses?...
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This note was uploaded on 11/27/2011 for the course ECONOMICS 101 taught by Professor Kelly during the Fall '10 term at University of Wisconsin Colleges Online.
- Fall '10