Business
Business, 29.10.2019 01:31, BornAdopted21

Assume a firm has a cost function c = 8 + 2 q + 0.1 q2 where

c โ€“ represents total costs

and q โ€“ represents production output.

a) what are the firmโ€™s fixed costs.

b) how much would the firm produce if it sells its output for $5 per unit?

c) how much would it produce if it sells its output for $2 per unit?

d) how much would it produce if it sells its output for $3 per unit?

e) draw the firm's supply curve

answer
Answers: 2

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Assume a firm has a cost function c = 8 + 2 q + 0.1 q2 where

c โ€“ represents total costs<...

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