Please help me with this question, not making any sense. Thank you!
11. Problems and Applications Q11 Suppose that each ï¬Ârm in a competitive industnr has the following costs: Total Cost: TE. 5fl+iq2Marginal Cost: MC=g where q is an individual ï¬Ârm’s quantity produoetl. The market demand curve for this product is: Demand O’D- 15D – 14F where P is the price and Q is the total quanljty’ of the good. Each ï¬Ârm’s ï¬Âxed east is . What is each ï¬Ârm’s 1irariatnle cost? II.I".|’hiI::l’| of the following represents the equaliun for each ï¬Ârm’s avera ge total cost? 0 s0 inO $+§g O 5fl+§g
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