Is this firm in the long run or in the short run

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Reference no: EM131099863

A firm’s cost function is C = 5Q + 0.1Q^2

1. Suppose the market price is $10. How many units will be produced by this firm to maximize its profit?

2. Is this firm in the long run or in the short run?

3. What is the lowest price at which the firm will produce?

Reference no: EM131099863

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