8.8. A firms long-run total cost curve is TC(Q) ! 1000Q $ 30Q2 Q3 . Derive

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8.8. A firm’s long-run total cost curve is TC(Q) !

1000Q $ 30Q2 " Q3

. Derive the expression for the corresponding long-run average cost curve and then sketch it. At what quantity is minimum efficient scale?

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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