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Firm average cost and average variable cost curves

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The cost function for Acme Laundry is C(q) = 10 + 10q +q , so its marginal cost function is MC = 10 + 2q, where q is tons of laundry cleaned. Derive the firm's average cost and average variable cost curves. What q should the firm choose so as to maximize its profit if the market price is p? How much does it produce if the competitive market price is p = 50?

Reference no: EM133132547

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