Assume that the cost data in the top table of the next column are for purely competitive prices.

Assume that the cost data in the top table of the next column are for purely competitive prices.

a) Answer the questions of 4a assuming product price is $41.( questions for 4a were: At a price of $56 will this firm produce in the short run? If it is preferable to produce what will be the profit maximizing or loss minimizing output? What economic profit or loss will the firm realize per unit of output?)

Total Product	Ave Fix Cost	Ave Variable Cost	Ave Total Cost	Marginal Cost
0
1	$60.00	$45.00	$105	$45
2	30	42.5	72.5	40
3	20	40	60	35
4	15	37.5	52.5	30
5	12	37	49	35
6	10	37.5	47.5	40
7	8.57	38.57	47.14	45
8	7.5	40.63	48.13	55
9	6.67	43.33	50	65
10	6	46.5	52.5	75

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