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A competitive firm has the following short-run cost function: c(y) = y^3-8y^2+30y+5.
a) find the firm's marginal cost function
b) find the firm's average variable cost function
c) graph the marginal cost function and the average variable cost function
d) find the level of output when marginal cost equals average variable cost
e) at what price the firm will supply zero output
f) at what price the firm will supply the smallest positive amount? At what price would the firm supply exactly 6 units of output?
What is arm´s length trade in conjunction with FDI?
Larry, Curly, and Moe run the only saloon in town. Larry wantsto sell as many drinks as possible without losing money. Curlywants the saloon to bring in as much revenue as possible. Moe wantsto make the largest possible profit.
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