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Suppose a competitive firm's total cost function is given by TC = 10Q3 - 160Q2 + 720Q -+ 900 1. What is the shutdown price?

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Suppose a competitive firm's total cost function is given by TC = 10Q3 - 160Q2 + 720Q -+ 900 1. What is the shutdown price? Show your work. (2 pts) 2. If the produced good sells for $720, how much will the firm produce? Explain your reasoning. (1 pt) 3. If the good sells for $240, how much will the firm produce? Explain your reasoning. (1 pt) Edit View Insert Format Tools Table 12pt ~ Paragraph

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