Find the equation of typical firm short-run supply function

Reference no: EM132199056

Question: A typical perfectly competitive firm in industry Y has the following short-run cost function. (Note: The answer to this question must be hand-written.)

a) Find the equation for the marginal cost function.

b) If the market price is $190. How much output will the firm produce?

c) What will be the typical firm's profits at a price of $190?

d) Is $190 a long-run equilibrium price? Explain your reasoning.

e) Find the equation of the typical firm's short-run supply function.

Reference no: EM132199056

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