Total Product 1 2 3 4 5 6 7 8 9 10 11 12 Average Fixed Cost $ 100.00 50.00 33.33 25.00 20.00 16.67 14.29 12.50 11.11 10.

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Total Product 1 2 3 4 5 6 7 8 9 10 11 12 Average Fixed Cost 100 00 50 00 33 33 25 00 20 00 16 67 14 29 12 50 11 11 10 1 (40.96 KiB) Viewed 17 times

Total Product 1 2 3 4 5 6 7 8 9 10 11 12 Average Fixed Cost $ 100.00 50.00 33.33 25.00 20.00 16.67 14.29 12.50 11.11 10.00 9.09 8.33 Average Variable Cost $ 17.00 16.00 15.00 14.25 14.00 14.00 15.71 17.50 19.44 21.60 24.00 26.67 Average Total Cost $ 117.00 66.00 48.33 39.25 34.00 30.67 30.00 30.00 30.55 31.60 33.89 35.00 Marginal Cost $ 17 15 13 12 13 14 26 30 35 41 48 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 $32 the competitive firm should produce