Question: Quantity Total Cost (dollars) 0 500 1 600 2 680 3 720 4 800 5 890 6 1000 7 1140 8 1300 9 1500 10
| Quantity | Total Cost (dollars) |
| 0 | 500 |
| 1 | 600 |
| 2 | 680 |
| 3 | 720 |
| 4 | 800 |
| 5 | 890 |
| 6 | 1000 |
| 7 | 1140 |
| 8 | 1300 |
| 9 | 1500 |
| 10 | 1750 |
from the table above that shows a perfectly competitive firm's TC at different output level. Answer the following questions If the market price of each unit is $200, fill the above table.
- what is the amount of TFC?
- what is the amount of TVC if the firm produces 2 units?
- what is the amount of AVC if the firm produces 3 units
- what is the amount of TR if the firm produces 3 units
- what is the amount of MC for the first unit produced?
- what is the amount of MR for the 6th unit of output?
- what is the amount of AR if the firm produces 3 units
- What is the optimal level of output?
- what is the profit at the optimal level of output?
- what is the amount of losses if the firm decide to shutdown
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