What is mensas short-run profit maximizing output

Reference no: EM13238555

Suppose that Mensa Inc. is a representative firm operating in a perfectly competitive market. Mensa's total cost of production, TC, is given by the equation TC = 5,000 + 5*q*q, where q is Mensa's output. Based on this equation, Mensa's marginal cost is 10q. If the output price is $100, what is Mensa's short-run profit maximizing output? How much profit does Mensa make at that output?

Reference no: EM13238555

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