Suppose that a firm has a short run, total cost function given by: TC= 1089 +10q +9q2.

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Suppose that a firm has a short run, total cost function given by: TC= 1089 +10q +9q2.

1. Determine the profit-maximizing quantity of production when price is $244. _____________________________________ q= 13

2. Calculate the price at which this firm breaks even (i.e. profit = $0). _____________________________________ $208

3. Calculate the price at which this firm shuts down in the short run. _____________________________________ $10

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Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Feb 23, 2024 12:01 AM

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Suppose that a firm has a short run, total cost function given by: TC= 1089 +10q +9q2.

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Stepbystep solutions for the shortrun cost function 1 Profitmaximizing quantity a Find marginal cost MC The marginal cost represents the change in tot... View the full answer

Microeconomics An Intuitive Approach with Calculus

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