[Solved] Consider the following total cost function (Q = output) of a perfectly competitive firm: TC = 150 + 200 Q - 9Q 2 + 0.25Q 3 What is the fixed cost?
Question: Consider the following total cost function (Q = output) of a perfectly competitive firm:
TC = 150 + 200 Q - 9Q 2 + 0.25Q 3
What is the fixed cost? What is the average cost if the firm produces 15 units? Find the shut-down point of this firm.
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