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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
MR=30
MC=50

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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