Question
In a perfectly competitive market each individual firm has the same cost functions: TC = 1140 + 90Q + 0.2Q 2 MC = 90 +
In a perfectly competitive market each individual firm has the same cost functions:
TC = 1140 + 90Q + 0.2Q2
MC = 90 + 0.4Q
The market price is $122.
Use the information above to calculate an individual firm's PROFIT at their optimal quantity.
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
6th Canadian Edition
321675606, 978-0321675606
