What would be the economic interpretation of the variable a

Reference no: EM13236996

Supposed a firm faces an inverse demand function of p(y)=20-y and a total cost function of c(y) = a + y^2

What would be the economic interpretation of the variable a?

For what values of 'a' would the firm have to face on order to earn at least 0 economic profit if it could only charge one price i.e. a simple monopoly?

Reference no: EM13236996

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