=+4. Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost
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=+4. Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C = 200 + 2q2
, where q is the level of output and C is total cost. (The marginal cost of production is 4q; the fixed cost is $200.)
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