Consider a perfectly competitive market in which each firm's short-run total cost function is C= 25+ 11q+q 2, where q is the number of units of output produced. The associated marginal cost curve is MC = 11+2q. In the short run each fim is willing to supply a positive amount of output at any price above $____. (Enter your response as a real number rounded to two decimal places.)
Consider a perfectly competitive market in which each firm's short-run total cost function is C= 25+ 11q+q 2, where q is the number of units of output produced. The associated marginal cost curve is MC = 11+2q. In the short run each fim is willing to supply a positive amount of output at any price above $____. (Enter your response as a real number rounded to two decimal places.)
Chapter7: Perefect Competition
Section: Chapter Questions
Problem 5SQP
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