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A firm produces a product in a competitive industry and has a total cost of function TC=50+4q+2q²
A firm produces a product in a competitive industry and has a total cost of function TC=50+4q+2q². The market price of the firm's product is $20. e. Should this firm continue to operate or shut down? f. Show the average variable cost, average total cost, marginal cost, marginal revenu, and demand curves on the graph.
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