Suppose firm A’s total cost function for the long run is given as c(q) = 3q^3 + (48/q) . Below which price in the long run will the firm choose to exit the industry (a) $32 (b) $24 (c) $16 (d) $2 (e) $0

Suppose firm A’s total cost function for the long run is given as c(q) = 3q^3 + (48/q) . Below which price in the long run will the firm choose to exit the industry (a) $32 (b) $24 (c) $16 (d) $2 (e) $0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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