A competitive firm has a short-run total cost curve STC (q)= 0.1q^2 +10q +40
a. Identify SVC and SFC.
b. Find and plot the SAC and SAVC curves.
c. For this function, the SMC curve is given by SMC (q)= 0.2q +10.Include this curve in your diagram for part b.
d. Write the equation for the firm’s short-run supply curve and indicate it in the above graph.
e. Find the firm’s break-even price e p (at which profits are zero) and its shut-down price.