ECON 323 Midterm: ECON 323 TAMU Exam2Fall 15m
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Avc cannot tell from the information provided none of the above. 1: a firm in a competitive industry has a total cost function of tc = 0. 2q + 5q + 50, whose corresponding marginal cost curve is mc = 0. 4q + 5. If the firm faces a price of 7, what quantity should it sell? a. b. c. d. e. 25 none of the above: and what profit does the firm make at this price? a. b. c. d. e. 25 none of the above: and what profit does the firm make at the new higher price? a. b. c. d. e. 3: a monopolist has a demand curve given by p = 90 - q and a total cost curve given by tc = 30q. The associated marginal cost curve is mc = 30. What is the monopolist"s marginal revenue curve? a. b. c. d. e.