Question: Refer to the table below. Quantity | Variable Fixed Total Average Variable Average Total Costs (in Marginal Costs Cost Costs Costs Costs dollars per unit)




Refer to the table below. Quantity | Variable Fixed Total Average Variable Average Total Costs (in Marginal Costs Cost Costs Costs Costs dollars per unit) (in dollars per (in dollars) (in (in (in dollars per unit) unit) dollars) dollars) 0 0 40 40 15 40 55 15 55 15 2 35 40 75 17.5 37.5 20 3 60 40 100 20 33.3 25 4 90 40 130 22.5 32.5 30 5 125 40 165 25 33 35 6 160 40 200 26.6 33.3 35If the firm produces 5 units that it sells at a price of $30.00 each, what will its profits or losses equal? a) profits equal $15 O b) losses equal $25 O c) profits equal $25 O d) losses equal $15
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