If the price of the good is $100, what is the firm's profit in the short-run equilibrium? Suppose that a firm in a competitive industry has the following cost functions:Total Cost: TC = 40 + q2Marginal Cost: MC = 2qIf the price of the good is $100, what is the firm's profit in the short-run equilibrium?3000.25O -500O 2812.5O 2460

A perfectly competitive market refers to the market in which the same price is charged equals the…

Answered: Total Cost: TC = 40 + q2 Marginal Cost:…

Total Cost: TC = 40 + q2 Marginal Cost: MC = 2q If the price of the good is $100, what is the firm's profit in the short-run equilibrium? 3000.25 -500 2812.5 O 2460

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the price of the good is $100, what is the firm's profit in the short-run equilibrium?

Suppose that a firm in a competitive industry has the following cost functions:
Total Cost: TC = 40 + q2
Marginal Cost: MC = 2q
If the price of the good is $100, what is the firm's profit in the short-run equilibrium?
3000.25
O -500
O 2812.5
O 2460

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