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Homework answers / question archive / Werner & Sons is a manufacturer of three-ring binders operating in a perfectly competitive industry

Werner & Sons is a manufacturer of three-ring binders operating in a perfectly competitive industry

Economics

Werner & Sons is a manufacturer of three-ring binders operating in a perfectly competitive industry.

The table below shows the firm's cost schedule. Complete the table by filling in the blank cells.

Quantity (cases) Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost
0 $0 $76      
1 $30 $106      
2 $50        
3   $134      
4   $140      
5   $160      
6 $114        
7 $150        
8 $190        
9   $316      

 

Werner is selling in a perfectly competitive market at a price of $40. What is the profit-maximizing or loss-minimizing output

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