Question: Complete the following table: Total Marginal Average Average Output Cost Cost Total Cost Variable Cost 0 $100 5 110 10 130 15 170 20 220

Complete the following table:

Total Marginal Average Average Output Cost Cost Total Cost Variable Cost 0 $100 5 110 10 130 15 170 20 220 25 290 30 380 35 490 According to the table above,

(a) If the price is $8, how much output will the firm supply?

(b) How much profit or loss will it make?

(c) At what price will the firm shut down?

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