Answer 1 Answer 2 Answer 3 Examine the table above which gives information

Answer 1 answer 2 answer 3 examine the table above

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Examine the table above, which gives information about the costs of aperfectly competitive firm. You are hired to determine the profit-maximizing quantity for the firm at different prices. For each price listed,you must find the output level, total revenue, total cost, and profit.When the market price is P = $70,What is the profit maximizing level of output? What is total revenue at this level of output? 6 What is the total cost at this level of output? What is the profit at this level of output? Correct! Correct! Correct! Correct! Correct!
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4/16/2020 Homework 04: [20SP] ECON 102, Sec 001: Microeconomic Analysis (WC, Brown) 7/23 Correct! Correct! 2 / 2 pts Question 6Because marginal cost is always ________ in the short run, total variablecost always ________ when output increases. Correct! Correct! 2 / 2 pts Question 7If the marginal cost curve is below the average variable cost curve, then average variable costs are increasing. average variable costs are decreasing. marginal cost must be decreasing. average variable costs could either be increasing or decreasing. Correct! Correct! 2 / 2 pts Question 8
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4/16/2020 Homework 04: [20SP] ECON 102, Sec 001: Microeconomic Analysis (WC, Brown) 8/23 If we know average total cost and the amount of output, then we canalways calculate total cost by Correct! Correct! 2 / 2 pts Question 9Diminishing marginal returns implies Correct! Correct! 0 / 2 pts Question 10If marginal cost is between average variable cost and average total cost,thenboth average variable cost and average total cost are increasing.
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4/16/2020 Homework 04: [20SP] ECON 102, Sec 001: Microeconomic Analysis (WC, Brown) 9/23 orrect Answer orrect Answer
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