Question
Your total cost of production is given by TC(Q)=80+2 Q+ Q2 and your demand is Q (P) = 30 P: (i) Solve for your
Your total cost of production is given by TC(Q)=80+2 Q+ Q2 and your demand is Q (P) = 30 P: (i) Solve for your pro't-maximizing output level and price. (ii) Should you be in the business or shut your doors?
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
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