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  3. assumingthatthepriceoflaboris et labeledexerciserablexisxtodo w 10 and the price of capital...

Question: assumingthatthepriceoflaboris et labeledexerciserablexisxtodo w 10 and the price of capital...

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Assumingthatthepriceoflaboris et labeledExerciserable.xisxtodo w- 10 and the price of capital is r 40, use Table 1 from the Excel sheet labeled Exercise2Table.xlsx to do the following: 1. Complete Table 3 2. If the firm can sell the good being produced at $73 per unit, determine whether the firm should produce and sell 1,2 or 4 units. 3. Complete Table 4 by determining the cheapest way to produce the given amounts of output in Table 4 (using the information you have from Table 1)TABLE1: Data TABLE2: APL and MPL TABLE 4 Long Run Costs APL MPL TC ATC 1.00 4.00 2.00 1.00 1.56 1.83 2.05 2.25 2.43 2.60 2.76 4.00 2.00 8.00 9.00 16.00 8.00 9.00 16.00 9.00 16.00 8.00 16.00 16.00 1.00 1.56 1.83 2.05 2.25 2.43 2.60 2.76 0.00 1.00 2.00 3.00 4.00 8.00 9.00 16.00 36 0.64 0.92 0.68 0.56 0.48 0.43 0.39 0.56 0.27 0.22 0.20 0.18 0.17 0.16 TABLE3: Short Run Costs FC TC AFC AVC ATC 12.5 16 16 25 25 32 49 32 36 100 18 16 64 1.00 1.56 1.83 2.05 2.25 2.43 2.60 2.76 4.00 5.83 9.00 36 32

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