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

Question

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

Quizplus · Accepted Answer

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

A Perfectly Competitive Firm Has Total Revenue and Total Cost