Stats Solutions

(See Solution) Assume a perfectly competitive firm’s short run is TC=100+160Q+3Q 2 . If the market price is $186.00, what should it do? _____ produce 5 units

Question: Assume a perfectly competitive firm’s short run is TC=100+160Q+3Q 2 . If the market price is $186.00, what should it do?

  1. _____ produce 5 units and continue operating.
  2. _____ produce 6 units and continue operating.
  3. _____ produce zero units (i.e. shut down).
  4. _____ can not be determined from the above information.

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