Question: Variable Output TVC TC AFC AVC ATC Marginal Cost 1 600 2 1000 3 1350 4 1780 5 2500 6 3600 7 5600 Use the

Variable Output TVC TC AFC AVC ATC Marginal Cost 1 600 2 1000 3 1350 4 1780 5 2500 6 3600 7 5600 Use the above table and assume fixed costs of $1000 and selling price of $700 If an economist wants to max profit or minimize loss, how much is profit given the above data

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