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Calculate equilibrium output-price and profit levels

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Competitive Market Equilibrium: The firm provides recycled toner cartridges for printers. The market is perfectly competitive. TC=$4000+5Q+0.1Q2; MC=ΔTC/ΔQ=$5+$0.2Q, where Q is the number of recycled toner cartridges. Calculate the firm's optimal output and profits if prices are stable at $55 per toner cartridge. Calculate the firm's optimal output and profits if prices rise to $65 per unit. Calculate equilibrium output, price and profit levels if the firm is typical in its industry.

Reference no: EM132444996

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