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Homework answers / question archive / Korumal? Gorunum - bu bilgisayar konumuna kaydedildi o Ara en Gözden Geçir Görünüm Yard?m QUESTION 3 (17 points) Show all your calculations
Korumal? Gorunum - bu bilgisayar konumuna kaydedildi o Ara en Gözden Geçir Görünüm Yard?m QUESTION 3 (17 points) Show all your calculations. You are given the following cost data (TVC: total variable cost) of a firm: 9 TVC 0 1 2 0 10 18 30 3 4 5 1 50 85 135 6 If the price of the output is $15. a) (8 points) Will the firm produce or not produce in the short-run? If it will produce, what will be the quantity? Justify your answer hop
b) (5 points) If the firm decides to exit in the long-run, what is the lowest value that the firm's total fixed cost may e) (4 points) Does this firm face diminishing returns in the short-run right from the beginning or after a certain point? Explain your answer.
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