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    Principles of Microeconomics Study Set 3
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    Exam 9: Firms in a Competitive Market
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    Refer to the Accompanying Graph
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Refer to the Accompanying Graph

Question 8

Question 8

Essay

Refer to the accompanying graph.
Refer to the accompanying graph.      a.What is the total revenue? b.What is the total cost? c.What are profits?
a.What is the total revenue?
b.What is the total cost?
c.What are profits?

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a.$50 * 25 = $1,250
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