Question: The following table shows the cost information for a firm in a perfectly competitive industry. The market price is $48 and the firm chooses their

The following table shows the cost information for a firm in a perfectly competitive industry.

The market price is $48 and the firm chooses their optimal quantity. Calculate their profit.

QFCVCTCMCAFCAVCATC
02020
12016361620.016.036.0
22034541810.017.027.0
3205474206.718.024.7
4207696225.019.024.0
520100120244.020.024.0
620126146263.321.024.3
720154174282.922.024.9
820184204302.523.025.5
920216236322.224.026.2
1020250270342.025.027.0
1120286306361.826.027.8
1220324344381.727.028.7
1320364384401.528.029.5
1420406426421.429.030.4
1520450470441.330.031.3
1620496516461.331.032.3
1720544564481.232.033.2
1820594614501.133.034.1
1920646666521.134.035.1
2020700720541.035.036.0

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