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Business, 15.04.2020 04:12 chasereynolds6302

Suppose a certain competitive firm is producing Q=500 units of output. The marginal cost of the 500th unit is $17. and the average total cost of producing 500 units is $12. The firm sells its output for $20. Refer to Scenario 14-3. At 0-499, the firm's total costs equal

1.$5,995
2.$5,999
3.$5,988.
4.$5,983

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