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The Following Table Gives the Average Total Cost of Production

Question 414

Multiple Choice

The following table gives the average total cost of production for various levels of output for a competitive price-taker firm
The following table gives the average total cost of production for various levels of output for a competitive price-taker firm If the firm's fixed cost of production is $3 and the market price is $10, how many units should the firm produce to maximize its profit? A) 1 B) 2 C) 3 D) 4 If the firm's fixed cost of production is $3 and the market price is $10, how many units should the firm produce to maximize its profit?


A) 1
B) 2
C) 3
D) 4

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