Suppose that the manager of a firm operating in a perfectly, Ask an Expert

Economics

Suppose that the manager of a firm operating in a perfectly competitive firm has estimated the firm’s AVC function to be:

AVC = 20 – 0.025Q + 0.00005Q2

Total fixed cost is $600.

a. Determine the firm’s supply curve.

b. What should be the industry price for the firm to produce 400 units of output in each period?

c. What is the firm’s total profit?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92196355

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