A perfect competitive firm has the following short-run total cost function: TC 2y2 98 while
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A perfect competitive firm has the following short-run total cost function: TC ¼ 2y2 þ 98 while the market clearing price is p* ¼ 40.
a. Calculate the optimal quantity to produce for the firm, together with its profit area.
b. Plot the relevant revenue and cost functions and identify in the chart the trend line associated to the marginal cost function.
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Related Book For 
Elements Of Numerical Mathematical Economics With Excel Static And Dynamic Optimization
ISBN: 9780128176498
1st Edition
Authors: Giovanni Romeo
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