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A frim is currently producing 30 units of output. At this level
of output produced:

Its average total cost is 110
The market price per unit of output is 125

1. Is this firm making profits or losses? How much?
2. Are they maximum profits? Why?
3. If your answer to part 2 was no, what does this firm have to do
to maximize its profits?

Please show all necessary calculations.

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