1.A firm is in a perfectly competitive industry where the market price for its product is $35

The firm's cost function is: TC(Q)= 625 + 10Q + 0.05Q^2

Calculate the profit maximizing quantity for this firm

2.Continuing from the previous question

What price will the firm charge?

3.Continuing from the previous question

Calculate profits at the profit maximizing quantity and price

4.Following from the previous question, is this perfectly competitive market in its long-run equilibrium?

A. Yes

B. No

C. Not enough information to answer