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Total Costs = 1,275 + 1,225 + 50 Q + Q 2 (MC = 50 + 2 Q) (sunk) (avoidable) The firm operates in a

Total Costs = 1,275 + 1,225 + 50 Q + Q²(MC = 50 + 2 Q) (sunk) (avoidable)

The firm operates in a perfectly competitive market.

a) (1) Find firm profit if price = $250.

b) (1) Find the firm's short-run shutdown price.

c) (1) The price of output is $100. What is the operating differential?

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