Question: 1. Ten firms have cost function c (q) = q2 + 10q + 100. They are price-takers A) What is the firms' average total cost

1. Ten firms have cost function c (q) = q2 + 10q + 100. They are price-takers A) What is the firms' average total cost function? B) What is the firms' average variable cost function? C) What is the minimum of average variable cost? D) What are the firms supply and inverse supply functions? E) Below what price will a firm produce 0? F) Above what price can these firms earn positive profit? G) How much does each firm produce at price-p? H) What is the market supply at price p? [) If demand is given by Qa = 500 p - 10 what is the equilibrium price when there are 10 firms? J) How much does each firm produce? K) What are the firms profits in equilibrium

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