You are given the following cost data:q TFC TVC 0 12 0 1
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You are given the following cost data:q TFC TVC 0 12 0 1 12 5 2 12 9 3 12 14 4 12 20 5 12 28 6 12 38 If the price of out
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You are given the following cost data:q TFC TVC 0 12 0 1 12 5 2 12 9 3 12 14 4 12 20 5 12 28 6 12 38 If the price of output is $7, how many units of output will this firm produce? What is the total revenue? What is the total cost? Will the firm operate or shut down in the short run? in the long run? Briefly explain your answer
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