Posted: December 27th, 2016

he short-run marginal cost of the Ohio Bag Company is 2Q. Price is $100.

he short-run marginal cost of the Ohio Bag Company is 2Q. Price is $100. The company operates in a competitve industry. Currently, the company is producing 40 units per period. What is the optimal short-run output? Calculate the profits that Ohio Bag is losing through suboptimal output.

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