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A perfectly competitive firm faces the following revenue and cost curves for its product: Total Revenue: TR = 150Q - 5Q 2 Average Cost: AC

A perfectly competitive firm faces the following revenue and cost curves for its product:

Total Revenue: TR = 150Q - 5Q²

Average Cost: AC =+ 20

What level ofoutputandpriceshould firm choose to maximize profits?

Instruction:Donotcalculate MR by taking derivative of TR

A. Output=26 and Price=16

B. Output = 26and Price =20

C. Output=16and Price=20

D.Output= 20and Price=26

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