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2. a) Explain how the accountant and economist view cost. (20 MARKS)

. b) Quick Meal is a fast food outlet in Mona that sells box lunches for $120 each. Its total
cost function is TC = 80,000 + 20Q + 0.02Q2


(i) Should the owners close the restaurant? Explain!
(ii) What is the profit /loss of the business?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91229986

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