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1) Your firm exhibits a Total Cost Function of: TC = .45Q 3 9Q 2 + 126Q + 1125. You are operating in a perfectly

1) Your firm exhibits a Total Cost Function of: TC = .45Q3 9Q2 + 126Q + 1125. You are operating in a perfectly competitive market, and are a price taker. How low would price need to be (that is if it were any lower) you would lay off the labor and idle the plant in the short-run? Show the profit rationale that motivates this idling of the plant notion.

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