1. Suppose a firm has the following total cost function: TC = 100 + 4q^2 a....

1. Suppose a firm has the following total cost function: TC = 100 + 4q^2

a. What is the minimum price necessary for the firm to earn profit? You must explain

your reasoning and process as to how your found the price you found.

b. Below what price will the firm shut down in the short run?

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

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