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Category > Accounting Posted 13 Jun 2017 My Price 7.00

A firm sells a product in a perfectly competitive market, at a price of $50

A firm sells a product in a perfectly competitive market, at a price of $50. The firm has a fixed cost of $30. Fill in the following table and indicate the level of output that maximizes profit. How would the profit-maximizing choice of output change if the fixed cost increased from $40 to $60? More generally, explain how the level of fixed cost affects the choice of output.

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Alpha Geek
(8)
Status NEW Posted 13 Jun 2017 05:06 AM My Price 7.00

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Attachments

file 1497330889-1910020_1_636328857203243723_maximize-profit.xlsx preview (144 words )
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