7:52 V 100 X gnment (Production and Costs) Question 1 --/ 10 A perfectly competitive firm has the following total cost function: Total output Total Cost 20 1 30 42 3 55 4 69 84 100 7 117 How much will...

A perfectly competitive firm has the following total cost function:

Total output	Total Cost
0	20
1	30
2	42
3	55
4	69
5	84
6	100
7	117

How much will the firm produce if the price of the production the market is Rs. 14 per unit? How will it change its output if price rises to Rs. 16 per unit

Extracted text: 7:52 V 100 X gnment (Production and Costs) Question 1 --/ 10 A perfectly competitive firm has the following total cost function: Total output Total Cost 20 1 30 42 3 55 4 69 84 100 7 117 How much will the firm produce if the price of the production the market is Rs. 14 per unit? How will it change its output if price rises to Rs. 16 per unit? Type your answer O of 1 completed Save for Later Submit