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Complete the table for review question 5-18 on page 176. After completing the table determine the approximate level of output associated with:

a. Where diminishing returns begins to appear.

b. The shutdown point for the firm.

c. The breakdown point for the firm.

 

2. For each of the following priced facing a purely competitive firm determine the optimal quantity and corresponding profit or loss.

a. P=40

b. P=95

c. P=150

Show all your work for each part of question 2.


Tags: United State  Tennessee   University of Tennessee CE205-Mathematics Economics Economic 

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