Question: Quantity TC TVC ATC AVC 0 5 0 1 6 1 6 1 2 9 4 4.5 2 3 11 6 3.666667 2 4 13
| Quantity | TC | TVC | ATC | AVC |
| 0 | 5 | 0 | ||
| 1 | 6 | 1 | 6 | 1 |
| 2 | 9 | 4 | 4.5 | 2 |
| 3 | 11 | 6 | 3.666667 | 2 |
| 4 | 13 | 8 | 3.25 | 2 |
| 5 | 17 | 12 | 3.4 | 2.4 |
| 6 | 22 | 17 | 3.666667 | 2.833333 |
| 7 | 26 | 21 | 3.714286 | 3 |
| 8 | 32 | 27 | 4 | 3.375 |
| 9 | 38 | 33 | 4.222222 | 3.666667 |
| 10 | 48 | 43 | 4.8 | 4.3 |
The above represents the total costs of a perfectly competitive firm. The firm will stop production at any price less than Answer._____
**round your answer to 2 decimal places. Eg. 10.6548 should be 10.66.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
