Question: Assume a firm has the cost function given by c(q) = 48 + 10q + 10. Answer the following: Write your answers to 3 decimal

Assume a firm has the cost function given by c(q) = 48 + 10q + 10. Answer the following: Write your answers to 3 decimal places. a) (0.5 point) Find the quantity level q* > 0 that maximises the firm's profit, at the price level p = 20. b) (0.5 point) Calculate the short run shutdown quantity for the firm

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