1 suppose the average variable cost equation for a


1) Suppose the average variable cost equation for a competitive firm is given by:
AVC=10 - 2Q + 0.5Q2
a)At what output is AVC at a minimum?

b) If the market price of the firm's output is $7 per unit, should the firm produce or shut down?

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Macroeconomics: 1 suppose the average variable cost equation for a
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