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Small Kevin Neary

Budget: $15

Solved!

At an output of 100 units, average total cost is $10 while fixed costs run at $100. Marginal cost at 100 units is $8 while marginal revenue is $8. If this is a perfectly competitive firm, what should the firm do to maximize profits in the short run.

Answer

Small Tutor Farzad Farzanegan

1) average total cost= average variable cost+average fixed cost 2) 10=average var...