Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function to be: AVC = 4.0 - 0.0024Q + 0.000006Q2 Fixed costs are $500. If the forecasted price of the firm's output is $4.00, how much output will the firm produce in the short run (round to the nearest unit) ?
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Home » Business » Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function to be: AVC = 4.0 - 0.0024Q + 0.000006Q2 Fixed costs are $500. If the forecasted price of the firm's output is $4.