A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm estimates its total costs as C(Q) = 50 + 100 +2Q2. a. How much output should the firm produce in the short run? units b. What price should the firm charge in the short run? s 90]@ c. What are the firm's short-run profits? s [71250] d. What adjustments should be anticipated in the long run? Exit will occur since these economic profits are too low. Entry will occur until economic profits shrink to zero. @ No firms will enter or exit at these profits