Suppose a competitive firm has the following short run cost function: C(q) = q³-8q² + 30q + 5. a. р Write the expression for the firm's short run supply curve. Be sure to indicate the range for which the supply curve applies. Wb this firmo

Suppose a competitive firm has the following short run cost function: C(q) = q³-8q² + 30q + 5. a. р Write the expression for the firm's short run supply curve. Be sure to indicate the range for which the supply curve applies. Wb this firmo

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose a competitive firm has the following short run cost function:
C(q) = q³ - 8q² + 30q + 5.
a. Write the expression for the firm's short run supply curve. Be sure to indicate the price
range for which the supply curve applies.
b. What price would induce this firm to supply exactly 6 units of output?

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