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Cost figures for a hypothetical firm

Cost figures for a hypothetical firm are given in the attached spreadsheet. Use them for the exercises below. The Firm is selling a perfectly competitive market.

a. fill in the blank columns
b. What is the minimum price needed by the firm to break even?
c. What is the shutdown price?
d. At a price of $40, what ouput level would the firm produce? What would its profits be?

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Solution Summary

Cost figures for a hypothetical firm are scrutinized.

$2.19