and marginal cost functions ar 203and MC=500-40Q+302 ate will average cost be a minir r all other firm in the market ar
and marginal cost functions ar 203and MC=500-40Q+302 ate will average cost be a minir r all other firm in the market ar
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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pls solve this question all parts on the plane sheet with clear handwriting within 10-20 minutes I'll give you multiple upvotes
![9-3. Tyson Brothers Manufacturing is currently earning economic profit. However, the market for the
firm's product is perfectly competitive, so the economic profit is not expected to persist in the long
run. Tyson's total and marginal cost functions are given by
TC=500Q-20002+Q³and MC=500-40Q+3Q2
a. At the output rate will average cost be a minimum?
b. If the curves for all other firm in the market are the same as Tyson's determine the long-run
equilibrium price.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe0b23f72-6a91-4a0c-a876-a39214a2de93%2F61e90977-b9f4-4748-9fb8-5c84f8790f2a%2Fqubkond_processed.png&w=3840&q=75)
Transcribed Image Text:9-3. Tyson Brothers Manufacturing is currently earning economic profit. However, the market for the
firm's product is perfectly competitive, so the economic profit is not expected to persist in the long
run. Tyson's total and marginal cost functions are given by
TC=500Q-20002+Q³and MC=500-40Q+3Q2
a. At the output rate will average cost be a minimum?
b. If the curves for all other firm in the market are the same as Tyson's determine the long-run
equilibrium price.
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