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A competitive firm has total cost function c(y)=5y^2+1,… S

Paper help Economics A competitive firm has total cost function c(y)=5y^2+1,… S

Economics

A competitive firm has total cost function c(y)=5y^2+1,… S

A competitive firm has total cost function c(y)=5y^2+1,… Show more PLease explain how you got your answers!:) A competitive firm has total cost function c(y)=5y^2+1,125. a) calculate the firms marginal and average cost functions. b) Draw the marginal and average cost functions on a graph. c) What is the minimum price at which the firm would be willing to supply a positive amount of output in the short run? Label this on your graph. d) Write down the firm’s short run supply function. • Show less

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