A firm has the total cost function C(q) = 16 + 10q + q^2 and all fixed costs are sunk. (a) Determine all values of q (for example, by specifying...
Question

# A firm has the total cost function C(q) = 16 + 10q + q^2 and all fixed

costs are sunk. (a) Determine all values of q (for example, by specifying intervals of q), for which the technology exhibits: (i) the increasing; (ii) decreasing; and (iii) constant returns to scale. (b) Determine the short-run shutdown price pS.

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Step-by-step explanation

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