A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit The firm's total costs are C ( Q ) 60 14 Q 2 Q 2 a How much output should the firm produce in the short run b What price should the firm charge in the short run c What are the firm's short run profits

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A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm's total costs are

A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm's total costs areC(Q) = 60 + 14Q+ 2Q².

a. How much output should the firm produce in the short run?

b. What price should the firm charge in the short run?

c. What are the firm's short-run profits?

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