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Practice Test 3.pdf - 12/10/2020 Review Test Submission:...

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12/10/2020Review Test Submission: Practice Test 3 – 2009_...Review Test Submission: Practice Test 32009_INTERMEDIATE MICROECON THEORYCourse ContentPractice ExamsReview Test Submission: Practice Test 3CourseTestStartedSubmittedStatusAttempt ScoreTime Elapsed2009_INTERMEDIATE MICROECON THEORYPractice Test 312/10/20 6:29 PM12/10/20 6:31 PMCompleted48 out of 48 points1 minuteResults DisplayedAll Answers, Submitted Answers, Correct Answers, Feedback, Incorrectly Answered QuestionsQuestion 1A competitive firm has the following short-run cost function: c(y) = y3- 10y2+30y.What is its marginal cost function?2 out of 2 points
12/10/2020Review Test Submission: Practice Test 3 – 2009_...Question 2A firm in a competitive industry has the following short-run cost function: c(y) = y3- 10y2+30y.What is its average costfunction?
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Question 3A firm in acompetitive industryhas the following short-run variable cost function: c(y) = y3- 10y2+35y (notice this is "35y"and not "30y" as in the previous problems). What is the minimum price at which this firm will supply any output? (Also notethat the question is asking for price, not quantity.)

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Term
Spring
Professor
Devkota

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