Examining output and price relationship

Reference no: EM1367998

Give Me a Pane, Inc., distributes window glass to hardware and building supply chains located throughout the Northeast. Like several grain and commodity markets, the market for common single-pane glass is perfectly competitive. The company's technology defines a marginal cost per pound of single-pane glass given by the relation:

MC = $1.00 + $0.0001Q

where Q is pounds of single-pane glass.

A. Calculate the industry price necessary for the firm to supply 10,000, 20,000, and 30,000 pounds.

B. Calculate the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.

Reference no: EM1367998

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