Hirsty
Lv 5
Hirsty asked in Social ScienceEconomics · 5 months ago

The average cost of a firm in a perfectly competitive industry is given by 5q2 -2q?

for all values of q greater than zero. In long run equilibrium, the price will be:

Update:

(a)100 or less

(b) more than 100 but not more than 110

(c) more than 110 but less than 120

(d) 120 or more

2 Answers

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  • Oiy
    Lv 5
    5 months ago

    I don't think that your average cost is correct.

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  • Nancy
    Lv 6
    5 months ago

    Without a value for q, the simplest answer is 5q2 - 2q.

    • Hirsty
      Lv 5
      5 months agoReport

      it's a multipler choice question answers are either a)100 or less
      (b) more than 100 but not more than 110
      (c) more than 110 but less than 120
      (d) 120 or more

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