Question: can someone please help me with this 3. Exercise 10.6 Assume that a firm in a perfectly competitive industry has the following total cost schedule:

can someone please help me with this

3. Exercise 10.6 Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calculate a marginal cost and an average cost schedule for the firm to complete the following table. Output Total Cost Marginal Cost Average Cost (units) ($) ($) ($) 10 220 15 300 20 360 25 450 30 600 35 770 40 960 If the prevailing market price is $34 per unit, units will be produced. Profits per unit will be and total profits will be Is the industry in long-run equilibrium at this price? O No Yes

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