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The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible. We have identical firms, each with a
The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible. We have identical firms, each with a Total Cost curve of TC=288+q^2 and Marginal Cost curve MC=2q. Market demand is Q=850-2P. If the market price is $53, what is the short-run profit maximizing quantity for each firm
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