perfectly competitive firm has total revenue and total cost curves given by:               TR = 100Q                           TC = 5,000 + 2Q + 0.2 Q2   Find the profit-maximizing output for this firm. What profit does the firm make

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 17SQ
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A perfectly competitive firm has total revenue and total cost curves given by:

 

            TR = 100Q                           TC = 5,000 + 2Q + 0.2 Q2

 

  1. Find the profit-maximizing output for this firm.
  2. What profit does the firm make?
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