option C The Market for Good X is perfectly competitive, with market supply andown-price demand curves given asq, = -25000 + 3000pqa = 135000 – 5000pa. Determine the equilibrium price and quantity in the market for goodx. (Note: You are not anlayzing an individual firm here. You are analyzingthe entire market).Suppose the individual firm's average total costs are dfined byTC =q3 – 3q2 + 289 +2b. What is the firm's demand curve (don't give me back the industrydemand curve. The firm's demand curve is what I want.)c. find the profit maximizing level of output for the firm (I've given themarginal cost curve below).MC = q? – 6q + 28d. If this firm is making a profit (loss) how much is the profit (loss)?

Answered: c. find the profit maximizing level of…

Business

Economics

c. find the profit maximizing level of output for the firm (I've given the marginal cost curve below).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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