Business
Business, 21.02.2020 23:48, santiagodiaz727

Mr. Smith is hired as a consultant to a firm evaluating entry into a perfectly competitive industry. Mr. Smith determined that at the projected level of output the price would be $100, the average variable cost would be $50, average total cost would be $80, and marginal cost would be $70. Mr. Smith’s report will include the following remarks:

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Mr. Smith is hired as a consultant to a firm evaluating entry into a perfectly competitive industry....

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