Firm Supply. Credit Check, Inc., offers credit checking services to credit card companies and retailers. The following relation exists between the number of credit checks performed and total costs in this viciously competitive market: 7. Total Total Cost S 150 600 1,060 1,540 2,040 2,565 3,115 3,750 Output 1,000 2,000 3,000 4,000 5,000 6,000 7,000 A. Construct a table showing the marginal cost of production. What is the minimum price necessary for the firm to supply one thousand credit checks? B. C. How many credit checks would the firm perform at industry prices of $510 and $550 per thousand? ?: ?-

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7. Firm Supply. Credit Check, Inc., offers credit checking services to credit card companies and retailers. The following relation exists between the number of credit checks performed and total costs in this viciously competitive market: Total Output 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Total Cost $ 150 600 1,060 1,540 2,040 2,565 3,115 3,750 A. Construct a table showing the marginal cost of production. B. What is the minimum price necessary for the firm to supply one thousand credit checks? C. How many credit checks would the firm perform at industry prices of $510 and $550 per thousand? 10 7. Firm Supply. Credit Check, Inc., offers credit checking services to credit card companies and retailers. The following relation exists between the number of credit checks performed and total costs in this viciously competitive market: Total Output 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Total Cost $ 150 600 1,060 1,540 2,040 2,565 3,115 3,750 A. Construct a table showing the marginal cost of production. B. What is the minimum price necessary for the firm to supply one thousand credit checks? C. How many credit checks would the firm perform at industry prices of $510 and $550 per thousand? 10

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A To construct a table showing the marginal cost of production we need to calculate the marginal cos... View the full answer