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A competitive firm has the following short run cost function TC=Q^3-8Q^2+ 30Q+ 5.
(a) Find marginal cost, average cost, and average variable cost and sketch them on a graph.
(b) At what range of prices will the firm supply zero output, i.e. shutdown?
(c) Identify the firms supply curve
(d) At what price would the firm supply exactly 6 units of output?
(e) Compute the price elasticity of supply at the pair of price quantity computed in part d.
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