A firm sells its product in a perfectly competitive market, Microeconomics

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A firm sells its product in a perfectly competitive market

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) = 60 + 14Q + 2Q².

1. What are the firm’s short-run profits?

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

3. How much output must the firm produce in the short run?

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Microeconomics: A firm sells its product in a perfectly competitive market

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Microeconomics: A firm sells its product in a perfectly competitive market

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