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The following shows the marginal cost schedule of a competitive firm. Suppose th...
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The following shows the marginal cost schedule of a competitive firm. Suppose the firm has a fixed cost of $2 and the prevailing market price is $4.
Output
|
MC
|
1
|
10
|
2
|
8
|
3
|
3
|
4
|
4
|
5
|
6
|
0%
0%
✅
0%
0%