Economy, asked by tanwarchhavi13, 20 hours ago

Q6. A competitive firm faces a cost function C=600+30^2 (i.e. Q is squared), where Q is the level of output and C is the total cost. The price prevailing in the market is 240 INR.
(1) How many units should this firm produce and how much profit does it make?
(ii) At what price does the firm shutdown?

Answers

Answered by umeshsriram11

Answer:

A competitive firm faces a cost function C=600+30^2 (i.e. Q is squared), where Q is the level of output and C is the total cost. The price prevailing in the market is 240 INR.

(1) How many units should this firm produce and how much profit does it make?

(ii) At what price does the firm shutdown

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