PQUIZ6 - 3 50 90 30 40 4 190 12.5 47.50 5 50 40 60 (2...

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Econ 101: Principles of Microeconomics NAME: Korinna K. Hansen Disc. Section: Practice Quiz 6 (6 points) Mary’s cake company faces the following cost schedule: Q TFC TVC TC AFC AVC ATC MC 0 50 0 50 ----- ----- ----- ----- 1 20 50 70 2 50 100 30
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Unformatted text preview: 3 50 90 30 40 4 190 12.5 47.50 5 50 40 60 (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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