Answer to Question #64500 in Microeconomics for Osman Mohamed
( Units ) Total Cost
( $ )
a) Calculate and graph a marginal cost and an average cost schedule for the firm.
b) If the market price is $17 per unit, how many units will be produced and sold? What are profits per unit? What are total profits?
c) Is the company in long-run equilibrium at this price? Explain.
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