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Economics
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Dec 24th, 2014

7.

At output level 30 and 80, the average revenue =average cost and so the firm will be making zero economic profits.

8.

At output level 60, the firm will be maximizing profit

9.

At output level 60, the total revenue = $240

10. 

At output level 60, the total cost = $160

Dec 24th, 2014

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