Uppose a firm is operating under a competitive market, Ask an Expert

Economics

Q. Suppose a firm is operating under a competitive market conditions and going price for its product is $260. If firm's short run Total Variable Cost (TVC) function is

TVC = 80Q - 6Q2 + 0.2Q3
Total fixed is cost = $1000

Illustrate what is firm's profit maximizing output? Explain how much profit will firm make?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9306720

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