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In a perfectly competitive market: the market price is 30 Marginal cost (MC) = 2(Q) + 4 average total cost at equilibrium is 34, and
In a perfectly competitive market:
the market price is 30
Marginal cost (MC) = 2(Q) + 4
average total cost at equilibrium is 34, and
average variable cost at equilibrium is 7
a. The profit maximizing price is
b. The profit maximizing quantity is
c. Total revenue is
d. Total cost is
e. Average fixed cost is
f. Total fixed cost is
g. Total profit/loss is
h. At the market price, could this be a long run equilibrium price
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