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ACME is a competitive firm producing magnetic birdseed with the following short-run cost function: TC = 0

Economics

ACME is a competitive firm producing magnetic birdseed with the following short-run cost function: TC = 0.1q2 ++10 0.2q + 1 The market price is $5. Find the following. Write your numerical answer(s) in the appropriate blanks. Do NOT include units or dollar signs. No fractions accepted-use decimals if needed. Do NOT round or truncate. Do NOT include any extra spaces or text. Show all work in your work file. a) profit maximizing output level: b) profit: c) average fixed costs: d) average variable costs: e) average total costs:

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