Suppose the market for watermelons is perfectly competitive and that there are 100 identical firms currently in
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Suppose the market for watermelons is perfectly competitive and that there are 100 identical firms currently in the market. Each firm as a short run total cost curve of STC=2Q^2+150, with $150 of the fixed costs sunk. calculate the shutdown price for a typical firm.
Related Book For
Intermediate Microeconomics and Its Application
ISBN: 978-0324599107
11th edition
Authors: walter nicholson, christopher snyder
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