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Explain why the firm chooses this level of output

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Reference no: EM131571357

The following are the questions I have to answer. I need help with the steps

(a) Fill in the table below and answer the following questions. Show your step-by-step calculations

(b) How much output will the firm choose to produce? Explain why the firm chooses this level of output.

Quantity Price Total Revenue Total Cost Profit Marginal Revenue Marginal Cost

0 $10  2

1 $10 4

 2 $10 7

 3 $10 11

 4 $10 17

 5 $10 30

Reference no: EM131571357

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