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a firm operates in a perfectly competitive market. P=20 and MC=10Q. We also know that the total cost function is equal to 40+5Q^2 whether the
a firm operates in a perfectly competitive market. P=20 and MC=10Q. We also know that the total cost function is equal to 40+5Q^2 whether the firm operates or not. In other words, the $40 fixed costs cannot be avoided even if the firm exits the market. What is the optimal Q? Hint - don't forget the shutdown condition Question 10 options: 4 2 5 0
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Quality Of The Environment An Economic Approach To Some Problems In Using Land, Water, And Air
Authors: Orris C Herfindahl, Allen V Kneese
1st Edition
1317386663, 9781317386667
