2) A perfectly competitive firm sells its product at a price of $50.Its total cost function is given as TC =150 + 10Q - 1.5Q+Q 10-39+ 3Q? Using calculus, find the profit maximizing level of output and maximum profit. Make sure your calculus results match marginal rule of profit maximization. MR =P MC=TC' 3q-3q - 40=0 MC=10-2q +393 MR=MC 39 (2-1) = 40 50=10-Zq+39 39 = 40 = 40/3 O=392, 49+10 9-1-40 2 392-39=40 2) A perfectly competitive firm sells its product at a price of $50.Its total cost function is given as TC =150 + 10Q - 1.5Q+Q 10-39+ 3Q? Using calculus, find the profit maximizing level of output and maximum profit. Make sure your calculus results match marginal rule of profit maximization. MR =P MC=TC' 3q-3q - 40=0 MC=10-2q +393 MR=MC 39 (2-1) = 40 50=10-Zq+39 39 = 40 = 40/3 O=392, 49+10 9-1-40 2 392-39=40