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Firm in a perfectly competitive market

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Reference no: EM131699262

Suppose that a firm in a perfectly competitive industry has the following marginal cost curve: MC = 2Q + 6. If the market price for the good they produce is $34.05, how many units of this good will the firm produce?

Round your answer to two decimal places.

Suppose a firm in a perfectly competitive market has total costs equal to 4Q2 + 6Q + 13. If this firm is earning zero economic profits, and is producing 48 units of the good, what must the market price be?

Round your answer to two decimal places. Do not include a $ sign.

Reference no: EM131699262

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