How much output should the firm produce in the short run

Reference no: EM133270441

Assignment:

A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm's total costs are C(Q) = 50 + 10Q - 2Q2 (L03).

1. How much output should the firm produce in the short run?

2. What price should the firm charge in the short run?

3. What are the firm's short-run profits?

4. What adjustments should be anticipated in the long run?

Reference no: EM133270441

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