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Business, 20.01.2020 18:31 jollyjinkings

Consider a competitive firm with a marginal cost given byc′(q) =10 + 20q, an average variable cost given bycv(q)/q= 10 + 10qandfixed costs off= $1000.(a) what is the firm’s total cost function? (b) if the market price for the firm’s good is $150, what is the firm’sprofit-maximizing output? (c) how would a 21 percent tax rate on profits affect this optimizingchoice of production? (d) if no taxes are imposed, is the firm making an economic profit? if not, should it remain in operation? briefly e

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Consider a competitive firm with a marginal cost given byc′(q) =10 + 20q, an average variable cost g...

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