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Question: mc atc mr l m quantity 1 use figure 401...

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MC ATC MR L M QUANTITY 1. Use Figure 40.1 to answer these questions. (A) At what level of output will this firm operate? (B) What is marginal revenue at this level of output? (C) What price will this firm charge for its product? (D) The area of which rectangle is equal to total revenue? (E) What is the firms average total cost? (F) The area of which rectangle is equal to the firms total cost? (G) Is the firm making profits or incurring losses? (H) The area of which rectangle is equal to profits or losses?

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