Costs of production for a firm
You are given the following information about the costs of production for a firm. Quantity 0 1 2 3 4 5 6 FC 90 VC 0 TC AFC ------ AVC ------ ATC ------ MC ------ 130 35 20 60 240 120 Complete the table above. Suppose the firm operates in a perfectly competitive market. Based on the information in part A, complete the following table: Market Price $28 $36 $88 $106 $140 Profit maximizing level of output Total Revenue Total Cost Profit