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Od EBER Coutain dollers ... . .. Output Refer to the graph shown. Total cost of producing 2* is represented by: A. arca 09 *

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Answer #1

Answer 47

Total Cost = ATC * Q*

ATC at Q* is at point E

Hence the area will be 0Q*BE Hence option B is correct

Answer 48

In a perfectly competitive market, market determines the price, hence firms are Price Takers. Hence option A is correct

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