Social Studies, 08.04.2021 01:00 saskiat1155
A firm produces a product in a competitive industry and has a total cost function (TC) of
TC(q) = 80 + 4q +2q^2
and a marginal cost function (MC) of
MC(q) = 4+4q.
At the given market price (P) of $18, the firm is producing 3.5 units of output.
What quantity of output should the firm produce in the long run?
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A firm produces a product in a competitive industry and has a total cost function (TC) of
TC(q) =...
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