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A competitive firm has the following quadratic total cost function TC = aQ2+10Q + 50
determine a if the market price is $50 per unit and the firm's profit maximizing level of output is 10 units.
Microeconomics, Economics
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A market is supplied competitively by 50 low- cost firms, each with cost curve C(q) = 350 + 2q+ q^2, and n high-cost firms, each with cost curve C(q) = 400 + 2q +q^2. Market demand is Q = 2500 - 10*p. If none of the high ...
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