A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm’s total costs are
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A firm sells its product in a perfectly competitive market where other firms charge a price of $90 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 firm’s short-run profits?
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