The accompanying table gives cost data for a firm that is selling in a purely competitive market.

Total Product	Average Fixed Cost	Average Variable Cost	Average Total Cost	Marginal Cost
1	$100.00	$17.00	$117.00	$17
2	50.00	16.00	66.00	15
3	33.33	15.00	48.33	13
4	25.00	14.25	39.25	12
5	20.00	14.00	34.00	13
6	16.67	14.00	30.67	14
7	14.29	15.71	30.00	26
8	12.50	17.50	30.00	30
9	11.11	19.44	30.55	35
10	10.00	21.60	31.60	41
11	9.09	24.00	33.09	48
12	8.33	26.67	35.00	56

The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $13, the competitive firm should produce

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Rahul Sunny answered 1 year ago

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