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Suppose you enter the toy manufacturing business which is a perfectly competitive market. The cost function is given by C =400 + 4g2 he marginal
Suppose you enter the toy manufacturing business which is a perfectly competitive market. The cost function is given by C =400 + 4g2 he marginal cost is 8q A. Based on this function, can you tell : 1) If this is a: short run function O long run function 2) What the fixed cost is? B. If the price of each toy is $200, how many units would you produce to maximize profit? C. What is the total cost? D. And the total revenue? what's it's the profi
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