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) Suppose a perfectly competitive firm has a cost function given by: c(q)=1,400+10q+1/10q^2 If the price for the product is $30 per unit, calculate the
) Suppose a perfectly competitive firm has a cost function given by:
c(q)=1,400+10q+1/10q^2
If the price for the product is $30 per unit, calculate the firm's profit maximizing level of output.
calculate the firm's profits and advise whether the firm should stay in production or if they should shut down? Explain.
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