Please help me with this question, not making any sense. Thank you!
11. Problems and Applications Q11 Suppose that each ﬁrm in a competitive industnr has the following costs: Total Cost: TE. 5ﬂ+iq2Marginal Cost: MC=g where q is an individual ﬁrm’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 ﬁrm’s ﬁxed east is . What is each ﬁrm’s 1irariatnle cost? II.I".|’hiI::l’| of the following represents the equaliun for each ﬁrm’s avera ge total cost? 0 s0 inO $+§g O 5ﬂ+§g