An imperfectly competitive firm has the following total cost ...

[bcretired]

An imperfectly competitive firm has the following total cost curve: C = 100 + 4Q. What is average total cost equal to when Q = 10?
 
  What will be an ideal response?

Question 2

Given the information in the table above, if the world equilibrium price of widgets were 40 cloths, then
 
  A) both countries could benefit from trade with each other.
  B) neither country could benefit from trade with each other.
  C) each country will want to export the good in which it enjoys comparative advantage.
  D) neither country will want to export the good in which it enjoys comparative advantage.
  E) both countries will want to specialize in cloth.

[mk6555]

Answer to Question 1

C/Q = 100 + (4 )(10 )/10 = 14

Answer to Question 2

A

[bcretired]

YES! Correct, THANKS for helping me on my review

[ktidd]

Great answer, keep it coming