#3 def 3. A firm selling in a perfectly competitive market has a total cost of TC = 3,920 + 7Q+0.2Q² dWhat is your expectation for the future on this market? You must motivate your answer.e.Determine the firm's long-run profit-maximizing output and price.fIf Market demand continues to be QM = 8,435-5Px, then the number of firms that willoperate in this market in the long-run is:

d. Expectation for the Future of the Market (Long-Run)Since this is a perfectly competitive market,…

Answered: 3. A firm selling in a perfectly…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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