A firm in perfect competition has a total cost function of
A firm in perfect competition has a Total Cost function of TC = 5Q^2 - 10Q + 20. If the current Price (P) = $5:
a) What is the current quantity and profit?
b) Will firms enter or leave the industry?
c) What will be the long run Price and Quantity?
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topic health safety and risk strategic managementpart one - strategic choice formulation and implementation 3150
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