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If each firm has a short-term cost function C= 50 + 5q + 92, and the market price is $35, a. Calculate the output level
If each firm has a short-term cost function C= 50 + 5q + 92, and the market price is $35, a. Calculate the output level that maximizes the firm's profit, the total revenue, and the firm's profit when it achieves allocating efficiency. b. If fixed costs increase from $50 to $250, calculate and describe the effect on the firm's production decision and profit in the short term. Should the firm continue to operate in the short term
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