In the long run this firm will exit the market if the price
Total Costs for a firm are given by: TC = 1Q2 + 10.4.
Marginal Costs for that same firm are given by: MC = 2*1Q.
In the long run, this firm will exit the market if the price falls below what value?
Now Priced at $10 (50% Discount)
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total costsnbspfor a firm are given bynbsptc nbsp1q2nbspnbsp104marginal costsnbspfor that same firmnbspare given
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