Airm in perfect competition has a total cost function tc
A firm in Perfect Competition has a Total Cost Function: TC = 6Q^2 - 8Q + 12 with a current P=$6
a) What is the current Quantity and Profit or Loss?
b) Will firms enter or leave the industry?
c) What will be the long run Price and Quantity?
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use the following table to answer the questions listed belowtotal output cost tfc tvc afc avc atc mc0 2010 4020 6030
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