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29-05-2023
Business

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Consider the perfectly competitive firm described by the short run cost curves in the figure below. 20 L MC 18 ATC AVC 16 14 12 10 8 6 4 2 05 10 15 20 25 30 35 40 45 50 Price and cost (dollars per mug) Quantity (mugs per day) If the price of the firm's output is $10, how many mugs should be produced in the short run? O Zero mugs Between 31 and 40 mugs, inclusive O Between 20 and 30 mugs, inclusive O More than 40 mugs Between 1 and 19 mugs, inclusive

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