Question
Assume quantities need not be integers. A profit-maximizing firm in a competitive market has total costs TC(q) = 10 + 4q + q 2 and
Assume quantities need not be integers. A profit-maximizing firm in a competitive market has total costs TC(q) = 10 + 4q + q2 and marginal costs are MC(q) = 4 + 2q. What are its profits if it faces a market price of 10?
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Microeconomics
Authors: David Laibson, John List
Global Edition 1st Edition
1292079576, 978-1292079578
