Consider an industry with identical firms. Suppose the cost function of firm i, i=1,...,n, is given by C₁(q) = 6 q₁² + 91 If a total of Q=400 units is produced efficiently in this industry, what will be the industry total cost of these 400 units? (As usual, you must enter a number below, not a ratio, not an expression with symbols..., just a number. Don't round, even if rounding makes sense...)

Consider an industry with identical firms. Suppose the cost function of firm i, i=1,...,n, is given by C₁(q) = 6 q₁² + 91 If a total of Q=400 units is produced efficiently in this industry, what will be the industry total cost of these 400 units? (As usual, you must enter a number below, not a ratio, not an expression with symbols..., just a number. Don't round, even if rounding makes sense...)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.2P

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