Determine number of lamps this firm would produce in order

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For each price in the following table, use the graph to determine the number of lamps this firm would produce in order to maximize its economic profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero units and the profit-maximizing quantity. Also, indicate for each price whether the firm will produce, shut down, or be indifferent between the two in the short run, and whether it will make a profit, suffer a loss, or break even.

Reference no: EM13156442

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