Problem on short run profit maximizing output


Suppose that Mensa Inc is a representative firm in a perfectly competitive industry. Mensa's total cost of production is TC= 5,000+5q^2, where q is mensa's output. Based on this equation, mensa's marginal cost is 10q. If the output is $100, what is mensa's short run profit maximizing output? How much profit does mensa make at that output?

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Macroeconomics: Problem on short run profit maximizing output
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