Assume a competitive firm faces a market price of $80, a cost curve of: C = 0.004g + 50g + 1000, and a marginal cost of: MC = 0.012q? + 50. The firm's profit maximizing output level is 50.00 units (enter your response rounded to two decimal places), and the per unit profit at this output level is $0 (enter your response rounded to two decimal places-include the minus sign if necessary). This firm will may or may not produce in the short-run. The firm will realize zero economic profit , and will not have a business profit. In the long-run, if circumstances do not change, this firm will may or may not produce

Assume a competitive firm faces a market price of $80, a cost curve of: C = 0.004g + 50g + 1000, and a marginal cost of: MC = 0.012q? + 50. The firm's profit maximizing output level is 50.00 units (enter your response rounded to two decimal places), and the per unit profit at this output level is $0 (enter your response rounded to two decimal places-include the minus sign if necessary). This firm will may or may not produce in the short-run. The firm will realize zero economic profit , and will not have a business profit. In the long-run, if circumstances do not change, this firm will may or may not produce

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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