Business
Business, 28.01.2021 18:40, alicia234

1. Suppose a firm's cost function is given by C(Q)=6Q+Q^2 when it produces Q units of its product. This small, profit-maximizing firm is active in a perfectly competitive market. After observing the
going price for its product, it decides to produce 3 units of output: Q=3. What is the firm's elasticity
of supply?
1.5
b. 2*
c. 2.5
d. 3
a.

answer
Answers: 1

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1. Suppose a firm's cost function is given by C(Q)=6Q+Q^2 when it produces Q units of its product....

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