3) A competitive firm's cost of producing q units of output is C = 18 + 4q +q2 Its corresponding marginal cost is MC = 2q +4 The firm faces a market price Create a spreadsheet with 1, 2, ..., 15, where the columns are q, R, C, VC, AVC, MC, and profit. Determine the profit - maximizing $24. Should the = output for the firm and the corresponding profit at p firm produce this level of output, or should it shut down? Explain briefly. (

3) A competitive firm's cost of producing q units of output is C = 18 + 4q +q2 Its corresponding marginal cost is MC = 2q +4 The firm faces a market price Create a spreadsheet with 1, 2, ..., 15, where the columns are q, R, C, VC, AVC, MC, and profit. Determine the profit - maximizing $24. Should the = output for the firm and the corresponding profit at p firm produce this level of output, or should it shut down? Explain briefly. (

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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