Description of this paper

A firm operating in a purely competitive environment

Description

solution


Question

9. A firm operating in a purely competitive environment is faced with market price of $250. The firm's total cost function (short run) is;TC=6000+400Q-20Q^2+Q^3;b. If the market price is $300 what will total profits (losses) be if the firm produces 10 Units of output? Should the firm produce at this price?

 

Paper#29490 | Written in 18-Jul-2015

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