Based on the following table: a. What is the profit-maximizing output? b. What will happen to the
Question:
Based on the following table:
a. What is the profit-maximizing output?
b. What will happen to the market price in the long run?
Transcribed Image Text:
Output Price Total Cost 0 $10 $ 31 1 10 40 23 10 45 10 48 4 10 55 5 10 65 10 67% 2 O 10 80 10 100 8 10 140 9 10 220 10 340
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