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QUESTION 4 A firm is in a perfectly competitive industry where the market price for its product is $35 The firm's cost function is: TC
QUESTION 4
- A firm is in a perfectly competitive industry where the market price for its product is $35
The firm's cost function is:
TC (Q)=625+10Q+0.05Q 2
- Calculate the profit maximizing quantity for this firm
QUESTION 5
- Continuing from the previous question
What price will the firm charge?
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
