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3) Kevin produces shoes in a competitive market with costs of production given by Cost = {1.1:}!2 + lq + 50, where q = number
3) Kevin produces shoes in a competitive market with costs of production given by Cost = {1.1:}!2 + lq + 50, where q = number of shoes produced each week. The market price for a shoe is $20. a. (5) How many shoes should Kevin choose to produce and sell in order to maximize prot? 1:). (5) Calculate Kevin's maximum weekly prot- c. (5) What is equation for Kevin's supply curve in the shortrun? Assume that all xed costs are sunk
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