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use the information in the table to calculate total revenue, marginal revenue, and marginal cost. Indicate profit- maximizing level of output. If the price was $3 and fixed costs were $5, what would vaiable cost be? At what level of output would the firm produce? Please provide explanation
output price total cost
1 $5 $10
2 $5 $12
3 $5 $15
4 $5 $19
5 $5 $24
6 $5 $30
7 $5 $45
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