Suppose that a firm in a competitive market faces the following revenues and costs:

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Quantity

(Units)

Total Revenue

(Dollars)

Total Cost

(Dollars)

0 0 3
1 6 5
2 12 8
3 18 12
4 24 17
5 30 23
6 36 30
7 42 38
​

​


Refer to Table 14-6. The firm should not produce an output level beyond