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A firm’s average-costfunction is given by the quadratic y=x2—20x+120 where y is average cost in dollars per unit of output. The output price is $10 per unit, and is the same at all levels of output. Find the output levels at which the firm just breaks even (i.e., price = average cost). Sketch the average—cost function and show the solution. Over what range of prices does the firm make a loss at all output levels?
Sagot :
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