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Q. If the profit function for a perfectly competitive widget is:
Profit = 100Q - 5000 - 0.2Q^2
a) Illustrate what is the price of widgets?
b) Then illustrate what would the total cost function be?
c) If output is 200 units illustrate what are the variable costs? Fixed costs?
d) Illustrate what is the product maximizing level of output for this producer?
e) Will the producer make a positive profit at this level of output?
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the demand for electricity and the concept that nuclear is cleaner than coal and who the special interest groups are that's involved
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Nancy's price-offer path is horizontal. Explain how does Nancy's expenditure on good 1 respond to changes in p1.
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