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Suppose That Each Firm in a Perfectly Competitive Market Has

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Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 75 + 500Q - 5Q2 + 0.5Q3, where MC = 500 - 10Q + 1.5Q2. Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 75 + 500Q - 5Q<sup>2</sup> + 0.5Q<sup>3</sup>, where MC = 500 - 10Q + 1.5Q<sup>2</sup>.

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