Assume that the market for wheat is perfect competitive, Business Economics

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Assume that the market for wheat is perfect competitive

Assume that the market for wheat is perfect competitive, with demand curve P = 5000 ? 0.01Q_D and a supply curve P = 1+0.1Q_S. Each identical wheat producer has a total cost curve given by TC = 1+Q+Q² , which results in marginal cost of MC = 1+2Q

1. What is the shut-down price for the firm?

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Business Economics: Assume that the market for wheat is perfect competitive

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Business Economics: Assume that the market for wheat is perfect competitive

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