Assume that the market for wheat is perfect competitive

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Assume that the market for wheat is perfect competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by TC = 1+Q+Q2, which results in marginal cost of M C = 1 + 2Q..

(1) The marginal revenue MR curve for the firm has an intercept of_____. (2) The profit maiming quantity for the firm is_____. (3) The profit of the firm is______. (4) The shut-down price is______.

Reference no: EM13774137

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