Derive the firm short-run supply curve

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Reference no: EM131174315

A firm total cost function (where C is total cost in dollars and Q is quantity) is

C = 200 + 4Q + 2Q2

a. If the firm is perfectly competitive and if the price of its product is $24, what is its optimal output rate?

b. At this output rate, what are its profits?

c. Derive the firm's Short-run supply curve.

Reference no: EM131174315

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