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iestion 6 (Finn Supply) Lelu runs a rm that sells multipasses to intergalactic cruises. Her shortrun total cost 1ction is given by C(q) = q2
iestion 6 (Finn Supply) Lelu runs a rm that sells multipasses to intergalactic cruises. Her shortrun total cost 1ction is given by C(q) = q2 + 25c] +144 a) Given above short run total cost function, derive the xed cost and variable cost function as a function of output q. b) If the market price is $75/pass, how many units will Lelu produce (hint: this is a prot maximization problem)? c) At What price will Lelu earn zero prots? d) If the price is below the level you found in b., will Lelu shut down? If so, explain. If not, below what price will she shut down
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