Suppose the market for french fries is perfectly, Ask an Expert

Economics

Suppose the market for French fries is perfectly competitive. A small operator of a french fry stand has a short run total cost function STC(Q) = 4Q^2 - Q + 1

Part 1 - What is the profit maximizing output when the price is $7?

Part 2 - At what price would the firm choose to shutdown?

Part 3 - What is the short-run market supply curve? Assuming there are 50 identical firms currently operating.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91240291

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