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skydonkey733Lv1
28 Sep 2019
A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm's total costs are C(Q)=50+10Q+2Q2
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 firm's short-run profits?
d) what adjustments should be anticipated in the long run?
A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm's total costs are C(Q)=50+10Q+2Q2
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 firm's short-run profits?
d) what adjustments should be anticipated in the long run?
Vaishnavi KanukurtiLv10
28 Sep 2019
