A firm sells its product in a perfectly competitive market where other firms charge a price of $80
Question: A firm sells its product in a perfectly competitive market where other firms
charge a price of $80 per unit. The firm’s total cost are C(Q)=40+8Q+2Q2.
i. How much output should the firm produce in the short run?
ii. What price should the firm charge in the short run?
iii. What are the firm’s short-run profits?
Price: $2.99
Solution: The solution consists of 1 page
Type of Deliverable: Word Document
Type of Deliverable: Word Document
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