Answered: average total cost

Business

Economics

average total cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Market demand is given as QD = 220 – 3P. Market supply is given as QS = 3P + 40. Each identical firm has MC = 0.3Q and ATC = 0.2Q. What is a firm's average total cost?

Question 62 options:

	$30
	$5
	$20
	$18

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