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A perfectly competitive firm is in a perfectly competitive industry with 200 identical firms. The firm has a variable cost function VC = 10q +
A perfectly competitive firm is in a perfectly competitive industry with 200 identical firms. The firm has a variable cost function VC = 10q + q2. Fixed cost is FC = 4. Market demand is Q = 3000 - 100p, where Q is market quantity. a. Market equilibrium price is v, and market equilibrium quantity is b. In equilibrium, each firm makes a profit equal to c. The minimum price for a positive output for a single firm is
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