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A firm's short-run cost function is c(q) = q + 6q +3. (a) Derive the AC, AVC, and MC, and draw them on the
A firm's short-run cost function is c(q) = q + 6q +3. (a) Derive the AC, AVC, and MC, and draw them on the same graph. (b) Compute the firm's short-run supply function s(p). (c) What is the firm's profit when the price is p: = 10?
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Microeconomics Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
