11 - California State University, Northridge
For a perfectly competitive firm, if P = $10 and the firm's total costs are given by TC = 10 + 2Q + Q2, the profit maximizing rate of output in the short run will be. a. 10. b. 8. c. 0 ^ d. 4. 3. In the short run, managers will if price is expected to remain below average total cost, but remain above the firm's average variable cost. ................
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