brod2163 brod2163

12-01-2024
Business

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A single firm owns the only subway system in a large city. The firm has total costs in the short run given by: TC = 0.005q² - 32q.
a) Calculate the firm's total cost function
b) Identify the variable and fixed costs
c) Explore the implications of a single-firm subway system
d) Analyze the profit-maximizing level of output

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