Question: 2. (a) Fill in Table 2. (b) Using your own dustry graph paper, draw a graph of the firm'seof marginal revenue, marginal cost, and average

2. (a) Fill in Table 2. (b) Using your own dustry graph paper, draw a graph of the firm'seof marginal revenue, marginal cost, and average cost curves. (c) Calculate the firm's total profe the firm operates at optimum efficiency, how will its output be? (e) ect competitor, how much would its price be in run? (LO1, 2, 3) rage total it. If the firm were a perf he long 04) poly: TABLE 2 Total Marginal Total 06) Output Price Revenue Revenue Cost ATC M $30 21 42 20 . 51 1 $22 4 1870 82 1698 2. (a) Fill in Table 2. (b) Using your own dustry graph paper, draw a graph of the firm'seof marginal revenue, marginal cost, and average cost curves. (c) Calculate the firm's total profe the firm operates at optimum efficiency, how will its output be? (e) ect competitor, how much would its price be in run? (LO1, 2, 3) rage total it. If the firm were a perf he long 04) poly: TABLE 2 Total Marginal Total 06) Output Price Revenue Revenue Cost ATC M $30 21 42 20 . 51 1 $22 4 1870 82 1698

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