Assume a competitive firm faces a market price of $70, a cost curve of! C=0.002q + 30q + 750, MC = 0.006q² + 30. The firm's profit maximizing output level (to the nearest tenth) is 81.64 units, and the profit (to the nearest penny) at this output level is and marginal cost curve of:

Assume a competitive firm faces a market price of $70, a cost curve of! C=0.002q + 30q + 750, MC = 0.006q² + 30. The firm's profit maximizing output level (to the nearest tenth) is 81.64 units, and the profit (to the nearest penny) at this output level is and marginal cost curve of:

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Perefect Competition

Section: Chapter Questions

Problem 5SQP

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Question

Assume a competitive firm faces a market price of $70, a cost curve of:
C = 0.002q³ + 30q + 750,
MC = 0.006q² + 30.
The firm's profit maximizing output level (to the nearest tenth) is 81.64 units, and the profit (to the nearest penny) at this output level is $
and marginal cost curve of:

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