What quantity of output should the firm produce in long run

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A firm has a cost function of TC (q )=80+4q+2q² and a marginal cost function of MC (q)=4+4q. At the given market price of $16, the firm is producing 3 units of output. Is the firm maximizing profit? Yes or No

What quantity of output should the firm produce in the long run?

Reference no: EM131174619

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