6. A firm sells its product in a perfectly competitive market where other firms charge a price of $90.00 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 firms' short-run profits?

6. A firm sells its product in a perfectly competitive market where other firms charge a price of $90.00 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 firms' short-run profits?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Perefect Competition

Section: Chapter Questions

Problem 12SQ

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