The Netnam Company total cost function is: TC = 2q + 2q2 + 75 Suppose that the firm is in perfect competitive market. Write the firm’s short run supply function? If the current market price is $30 per unit, find the firm’s optimum output? How much profit does the firm obtained? If the market price is at $10, what is the firm’s output decision? Explain your answer. Question 3:

The Netnam Company total cost function is: TC = 2q + 2q2 + 75 Suppose that the firm is in perfect competitive market. Write the firm’s short run supply function? If the current market price is $30 per unit, find the firm’s optimum output? How much profit does the firm obtained? If the market price is at $10, what is the firm’s output decision? Explain your answer. Question 3:

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section: Chapter Questions

Problem 1QP

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