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05-06-2023
Business

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The equations below should be used to answer questions 1.7 and 1.8 and correspond to a profit-maximising perfectly competitive firm (i.e. where q= output). TC = $170 if q = 0
TC = 200 + 10q + q² if q > 0
MC = 10 + 2q if q > 0
If q = 100, then what is the firm's average cost (AC) ?
A. 11200 B. 112 C. 110 D. 2

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