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28 Sep 2019
A firm sells its product in a perfectly competitive market where other firms charge a price of $100 per unit. The firmâs total costs are C(Q) = 60 + 12Q + 2Q^2.
a. How much output should the firm produce in the short run?
b. What price should the firm charge in the short run?
c. What are the firmâs short-run profits?
A firm sells its product in a perfectly competitive market where other firms charge a price of $100 per unit. The firmâs total costs are C(Q) = 60 + 12Q + 2Q^2.
a. How much output should the firm produce in the short run?
b. What price should the firm charge in the short run?
c. What are the firmâs short-run profits?
Paramjeet ChawlaLv8
28 Sep 2019
