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A perfectly competitive firm encounters the following monthly costs and price.
TC = 5,625 + 5Q + 0.01Q2
ATC = 5 + + 0.01Q
MC = 5 + 0.02Q
P = 20.
a. What is the fixed cost of this firm?
b. What is the optimal output of this firm?
c. What is the economic profit or loss of this firm?
d. If there are 100 firms producing exactly the same amount like this firm, what will be the total monthly industry output?
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A manager at strateline manufacturing much choose between twoshipping alternatives: two day freight and five-day freight. Using five day freight would cost $135 less than using two day frieght.
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