Back to Assignment Attempts 2. Problems and Applications Q11 Suppose that each firm in a competitive industry has the following costs: Total Cost: TC = 50+ 19² Marginal Cost: MC = q Keep the Highest /11 where q is an individual firm's quantity produced. The market demand curve for this prožuct is: Demand 2D = 120 - P where P is the price and is the total quantity of the good. Each firm's fixed cost is $ What is each firm's variable cost? O q 01/19 O 50+ /29 01/19²
Back to Assignment Attempts 2. Problems and Applications Q11 Suppose that each firm in a competitive industry has the following costs: Total Cost: TC = 50+ 19² Marginal Cost: MC = q Keep the Highest /11 where q is an individual firm's quantity produced. The market demand curve for this prožuct is: Demand 2D = 120 - P where P is the price and is the total quantity of the good. Each firm's fixed cost is $ What is each firm's variable cost? O q 01/19 O 50+ /29 01/19²
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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