Multiple Choice
Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 75 + 500Q - 5Q2 + 0.5Q3, where MC = 500 - 10Q + 1.5Q2. The output that minimizes the firm's AVC is ____.
A) 10
B) 7
C) 5
D) 0
Correct Answer:
Verified
Correct Answer:
Verified
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