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The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $68.10, it will produce Multiple Choice 8 units at an economic profit of $130.72. 8 units at an economic profit of zero. 6 units at a loss of $90. 9 units at an economic profit of $281.97.

Respuesta :

Based on the selling quantities and the marginal cost in the table, if the company was in a purely competitive market, it would produce  8 units at an economic profit of $130.72.

What quantity would the company produce?

Because the company is in a purely competitive market, it will try to produce at the point where:

Price = Marginal cost  

Or something close to this.

The price is $68.10 so the closest unit is 8 units where the Marginal cost is $68.07.

The economic profit is:

= (Selling price - average total cost) x number of units

= (68.10 - 51.76) x 8

= $130.72

Find out more on purely competitive markets at https://brainly.com/question/15146760

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