Social Studies
Social Studies, 08.04.2021 01:00, saskiat1155

A firm produces a product in a competitive industry and has a total cost function​ (TC) of TC(q) = 80 + 4q +2q^2
and a marginal cost function​ (MC) of
MC(q) = 4+4q.
At the given market price​ (P) of ​$18​, the firm is producing 3.5 units of output.
What quantity of output should the firm produce in the long​ run?

answer
Answers: 3

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A firm produces a product in a competitive industry and has a total cost function​ (TC) of TC(q) =...

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