Question: Fill out the table below, and then answer the following questions. Q 0 1 2 3 4 5 TC 8 12 14 20 30

Fill out the table below, and then answer the following questions. Q

Fill out the table below, and then answer the following questions. Q 0 1 2 3 4 5 TC 8 12 14 20 30 50 TFC TVC ATC AVC MC a) Suppose the firm is a price-taker. If the price is $15 per unit, will this firm be earning economic profits? How much? What quantity will it produce? b)What is the breakeven price? What is the shutdown price?

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