Suppose a firm's total cost and marginal cost of producing Q units are: TC = 5Q² and MC = 10Q. If the firm operates in a perfectly competitive industry and the price of the good is $200, what is this firm's profit in the short-run? $4,000. $500. $1,000. 06000

ENGR.ECONOMIC ANALYSIS
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QUESTION 15
Suppose a firm's total cost and marginal cost of producing Q units are: TC = 5Q² and MC = 10Q. If the firm operates in a perfectly
competitive industry and the price of the good is $200, what is this firm's profit in the short-run?
$4,000.
$500.
$1,000.
$2,000.
QUESTION 16
Transcribed Image Text:QUESTION 15 Suppose a firm's total cost and marginal cost of producing Q units are: TC = 5Q² and MC = 10Q. If the firm operates in a perfectly competitive industry and the price of the good is $200, what is this firm's profit in the short-run? $4,000. $500. $1,000. $2,000. QUESTION 16
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