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A firm's long run total cost curve is given by TC(Q) = 1000Q - 30Q^2 + Q^3. Derive the expression for the long run average cost curve and sketch it. At what quantity is the minimum efficient scale?

To get a firm's long run average cost, you need to divide the total cost by quantity. As such, (1000Q - 30Q 2 + Q 3 )/Q = 1000 - 30Q + Q 2 . From this we can see that the long run average cost curve would ha...
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Answered by Christo N. • Economics tutor
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How do I know when to use the passé composé or the imparfait?

So the passé composé (simple past) and imparfait (imperfect) might seem very similar since they both describe actions in the past. However there are some important differences. The key thing to remember is t...
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Answered by Millie G. • French tutor
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Explain the Logical Problem of Evil

The Logical Problem of Evil, also known as The Inconsistent Triad, is an argument against God's existence that tries to show that the existence of evil is logically inconsistent with the existence of a God w...
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Answered by Gus S. • Philosophy tutor
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Explain why emotivism is a non-cognitivist theory of ethical language.

A non-cognitivist theory of ethical language is one that denies that ethical statements are propositions which express truth or falsity. Emotivism is the theory of ethical language that holds that ethical st...
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Answered by Gus S. • Philosophy tutor
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Do Arguments from Empiricism support Berkeley's Idealism as a Theory of Perception?

Arguments from Empiricism do support Berkeley’s Idealism as a theory of perception. This is because Berkeley’s Idealism is in itself an argument from Empiricism. To understand this it is important to see Ber...
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Answered by Gus S. • Philosophy tutor
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