Using the following table, for each price level, calculate the optimal quantity of units for the firm to produce. Using the data from the graph todetermine the firm's total variable cost, calculate the profit or loss associated with producing that quantity. Assume that if the firm is indifferentbetween producing and shutting down, it will choose to produce. (Hint: Select purple points [diamond symbols] on the graph to receive exact averagevariable cost information.)PriceQuantity(Dollars per pres
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The data in the table below give information about the price (in dollars) for which a firm can sell a unit of output and the total cost of production. a. Fill in the blanks in the table. b. Show what happens to the firm's output choice and profit if the price of the product falls from 60 to 50. | Numerade
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