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Suppose total costs can be described as TC=6q2+50 (this cost function has a marginal cost curve of MC=12q) for a price-taking firm in a market
Suppose total costs can be described as TC=6q2+50 (this cost function has a marginal cost curve of MC=12q) for a price-taking firm in a market with a price of $180. Is this firm operating in the short or long-run and why?
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