Problem
Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q.
a. Find the profit-maximizing output for the firm.
b. At this output, is the firm making a profit? Explain your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.