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1. Bill's Bakery has a fire and Bill loses some of his cost data. The bits of paper that he recovers after the fire provide the information in the following table (all the cost numbers are dollars).
TP
AFC
AVC
ATC
MC
10
120
100
220
80
20
A
B
150
90
30
40
130
C
D
E
50
24
108
132
Bill asks you to come to his rescue and provide the missing data in the five spaces identified as A, B, C, D, and E.
2. What is the lowest price at which a firm produces an output? Explain why.
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