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Represents the firm output in units

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Reference no: EM131602673

A perfectly competitive producer has the following short-run average cost curve and marginal cost curve:

SR AC = 2Q + 3

MC = 4Q + 3

where costs are measured in dollars and Q represents the firm's output in units.

The firm whose short-run cost curves are given and have a long-run fixed cost of:

a. $0.

b. $4.

c. $3.

d. $2

Reference no: EM131602673

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