Assume a firm has a cost function c = 8 + 2 q + 0.1 q2 where
c – represents total costs<...
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Business, 29.10.2019 01:31 BornAdopted21
Assume a firm has a cost function c = 8 + 2 q + 0.1 q2 where
c – represents total costs
and q – represents production output.
a) what are the firm’s fixed costs.
b) how much would the firm produce if it sells its output for $5 per unit?
c) how much would it produce if it sells its output for $2 per unit?
d) how much would it produce if it sells its output for $3 per unit?
e) draw the firm's supply curve
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