What type of firm must this data represent

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Reference no: EM132192342

For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions faced by firms that are not in pure competition. Some numbers may be rounded.

Table 1

Address the following:

Complete Table-1. Summarize your calculations.

Prepare a graph showing:

Average Fixed Costs

Average Variable Costs

Average Total Costs

Marginal Revenue

Marginal Costs

Using the data in the table and on your graph, explain the profit maximizing, or loss minimizing level of output.

Normal profit and an economic profit. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.

Given the data in the table and the graph, what type of market structurecould this be in the short run? Explain your answers.

If the data in Table-1 represents the long run, what type of firm must this data represent? Explain your answers.

Attachment:- Table1.rar

Reference no: EM132192342

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