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The market demand curve is Q D - 50 = P . The marginal cost curve is MC = 4 Q + 6. a. Assuming

The market demand curve is Q_D - 50 = P. The marginal cost curve is MC = 4Q + 6.

a. Assuming the marginal cost curve is for a competitive industry as a whole, find the profit-maximizing level of output and price.

b. Assuming the marginal cost curve is for only one firm that comprises the entire market, find the profit-maximizing level of output and price.

c. Compare the two results.

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