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Problem: Suppose that the Total Cost for a competitive firm is given by C(Q) = 2Q2 + 2Q + 10.
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Question 1: Calculate the profit-maximizing quantity (Q*) that the firm will produce if the market price (P*) is $10.
Question 2: Does the firm make a profit or a loss? Calculate the amount.
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If the value of A is 10, and there are 100 units of K and 400 units of labor, what is the value of output equal to in this economy? Show your work. Given the values in part (a), what is output per worker? Given the values in part (a), what is outp..
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