Perfectly competitive market short-run total cost function

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Assume a firm in a perfectly competitive market has the short-run total cost function TC = 100 + 160Q + 3Q2. If the market price is $196, what should it do? a. produce 5 units per time period. b. produce 6 units per time period. c. produce zero units (i.e., shut down) d. cannot be determined from the above information e. insufficient information to answer this question.

Reference no: EM13982615

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