Question: Use the following data to answer the questions below: a. Calculate the marginal cost and average variable cost for each level of production. b. How

Use the following data to answer the questions below:

a. Calculate the marginal cost and average variable cost for each level of production.
b. How much would the firm produce if it could sell its product for $5? for $7? for $10?
c. Explain your answers.
d. Assuming that its fixed cost is $3, calculate the firm€™s profit at each of the production levels determined in part (b).

C! 060518655 112233456 0123456789

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