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Identify the firms supply curve

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Reference no: EM132422741

Problem: A competitive firm has the following short run cost function TC=Q^3-8Q^2+ 30Q+ 5.

Required:

Question 1: Find marginal cost, average cost, and average variable cost and sketch them on a graph.

Question 2: At what range of prices will the firm supply zero output, i.e. shutdown?

Question 3: Identify the firms supply curve

Question 4: At what price would the firm supply exactly 6 units of output?

Question 5: Compute the price elasticity of supply at the pair of price quantity computed in part d.

Reference no: EM132422741

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