Answer to Question #99374 in Microeconomics for Sofia

Question #99374
Suppose the market of carpets is competitive. A typical firm producing carpets has the following total cost function.
1
Expert's answer
2019-11-26T11:05:18-0500

"C(x)=FC+V(x)"

where C is the total production cost of carpets

FC is the total fixed cost of carpets.

V is the variable cost of carpets.

x is the number of carpets poduced


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