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You are a manager of a firm with a following demand and

You are a manager of a firm with a following demand and cost functions in a perfectly
competitive market. The price in your market is $35.

Your total cost curve is:
TC = 10 + 2Q + 0.5Q^2
P=35

a. What is the market structure of this firm? How do you know?
b. What level of output should you produce in the short-run?
c. What price should charge in the short-run?
d. Will you make any profits in the short-run?
e. What will happen in the long-run?

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Solution Preview :

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Econometrics: You are a manager of a firm with a following demand and

Reference No:- TGS0578383

Have a Question? (oR Write a Review)

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Solution Preview :

Prepared by a verified Expert

Econometrics: You are a manager of a firm with a following demand and

Reference No:- TGS0578383

Recent Questions Asked Econometrics

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