The market price in a perfectly competitive market is $20. A perfectly competitive firm has a marginal cost given by MC=0.5Q. Find profit-maximizing price, quantity, and revenue. Hint: profit-maximizing requires P=MC, and Revenue = P rice x Quantity. 26. The market price in a perfectly competitive market is $20. A perfectly competitive firm has a marginal cost given by MC=0.5Q. Find profit-maximizing price, quantity, and revenue. Hint: profit-maximizing requires P=MC, and Revenue = P rice x Quantity. c. Profit-maximizing price = $20; Quantity= 400; and Revenue = $8,000. a. Profit-maximizing price = $10; Quantity= 30; and Revenue = $800. No answer text provided. b. Profit-maximizing price = $20; Quantity= 40; and Revenue = $800