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QUESTION
A competitive firm faces market price: P=400. Production Costs are c(Q)=Q^2. The firm also pays $9000 in cost that
A competitive firm faces market price: P=400. Production Costs are c(Q)=Q^2. The firm also pays $9000 in cost that
does not depend on production even if q=0.
How do I find the sunk costs, fixed cast and variable costs.
How do i calculate economic and accounting profit?
