Question
please please help me! one long problem and some vocab
(For this question you have 20 attempts) Throughout this problem assume that for an industry aggregate demand is given by: QP
JU f. Now, suppose that a minimum wage law goes into effect and the wage rate changes to w= 4. Find the firms short run cost
Which of the following cost functions exhibit economies of scale? diseconomies of scale? neither? (The answers are either: e
If firms can easily enter and exit a market, then O O O A. firms will produce at minimum average cost in the short run. O B.
Why would a firm that incurs losses choose to produce rather than shut down? In a perfectly competitive industry, if a firm i
A competitive firm has the following short-run cost function: C(q) = 193 - 692 +269 +6. Find marginal cost (MC), average cost
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Answer #1

Answer:

Question 5) Option D: MC= 3q^2-12q+26

Given C=1q^3-6q^2+26q+6

MC =dC/dq

MC= 3q^2-12q+26

AC=C/q

AC= q^2-6q+26+6/q

VC= 1q^3-6q^2+26q

AVC= VC/q =q^2-6q+26

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