MICROECONOMICS
MICROECONOMICS
null Edition
ISBN: 9780134519494
Author: Acemoglu
Publisher: PEARSON
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Chapter 6, Problem 6P

(a)

To determine

Average Variable Cost (AVC), when 2 widgets are produced by a firm.

(b)

To determine

Quantity supplied by all the firms at a market price of $2.5

(c)

To determine

Equilibrium price in the short run when demand is fixed at 18.

(d)

To determine

Long-run equilibrium price.

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