10.5.1 calculating profit

1 point possible (graded) Suppose a forestry services firm in a perfectly competitive market has a cost function C = 10 + 2q + q, and takes a price of p = 10. (This is the same scenario as in Lecture Exercise 10.4.1, i.e. use your answer for LE10.4.1 as the pre-tax quantity.) What is the change in profits after a $2/unit tax is assessed on the firm? (Provide the difference between post-tax and pre-tax values. Use positive numbers for an increase and negative numbers for a decrease.) Submit You have used O of 2 attempts Save