Is the firm operating in short run or long run
Suppose TC function is given as TC = ½ Q2 +40 and current output is 200 units. i) Is the firm operating in short run or long run? Explain. ii) Find the values of AVC;AFC; AC and MC corresponding to the output level of 200
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suppose tc function is given as tc frac12 q2 40 and current output is 200 units i is the firm operating in short run
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