Solved: A firm operating in a competitive market has the following, Microeconomics

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A firm operating in a competitive market has the following

A firm operating in a competitive market has the following quadratic total cost function

TC = 10Q2+ 5Q + 400
If the market price of the good is $165 per unit.

(a) What is the firm's profit maximizing level of output? What is its profit?

(b) What is the long run price established in this market?

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Microeconomics: A firm operating in a competitive market has the following

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Microeconomics: A firm operating in a competitive market has the following

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