問題詳情

3. For a particular competitive firm, the minimum value of average variable cost (AVC) is $3.5. Theminimum value of short run average total cost (SATC) is $4.5 and is reached when 60 units of output areproduced. The minimum value of long run average total cost (LATC) is $4 and is reached when 50 unitsof output are produced. Suppose the market demand is

and the market supply is


【題組】 (a) What will the firm do in the short run if the price of its product is $3?

參考答案