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4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.0-

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Answer #1

If the market price is 32 dollar the firm can not produce more than 8 units as the marginal cost of producing 9 units is 35 dollar. Thus the firm will produce 8 units at price of 32 dollars each thus total revenue = 8X32= 256 dollar and total cost = 30X8=20 dollars thus the economic profit will be 256-240=16 dollars So the correct option is 8 units at an economic profit of 16 dollars.

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