Assume a competitive firm faces a market price of $120, a cost curve of: and a marginal cost of: What is the firm's profit maximizing output level? What is the firm's profit maximizing price? $ What is the firm's profit? $ (round to the nearest penny) In the short-run, this firm should C = 4 1 3 MC = q² +20. units. (round your answer to two decimal places) (round to the nearest penny) + 20q + 500,
Assume a competitive firm faces a market price of $120, a cost curve of: and a marginal cost of: What is the firm's profit maximizing output level? What is the firm's profit maximizing price? $ What is the firm's profit? $ (round to the nearest penny) In the short-run, this firm should C = 4 1 3 MC = q² +20. units. (round your answer to two decimal places) (round to the nearest penny) + 20q + 500,
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![Assume a competitive firm faces a market price of $120, a cost curve of:
and a marginal cost of.
In the short-run, this firm should
C
MC = q² +20.
What is the firm's profit maximizing output level? units. (round your answer to two decimal places)
What is the firm's profit maximizing price? $. (round to the nearest penny)
What is the firm's profit? $. (round to the nearest penny)
43
+ 20g + 500,](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F805991fa-0820-4b40-8f5a-39474b333a32%2F5e187946-d369-4988-8e3d-11ebe6e76017%2F8sbkna9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume a competitive firm faces a market price of $120, a cost curve of:
and a marginal cost of.
In the short-run, this firm should
C
MC = q² +20.
What is the firm's profit maximizing output level? units. (round your answer to two decimal places)
What is the firm's profit maximizing price? $. (round to the nearest penny)
What is the firm's profit? $. (round to the nearest penny)
43
+ 20g + 500,
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