Consider a firm in a perfectly competitive industry with the following cost stru

Question

Consider a firm in a perfectly competitive industry with the following cost structure: VC (Q) = 10 Q2 + 50 Q, FC = 4000 and MC (Q) = 50 + 20 Q. If the market price is Pm = 40, in the short-run this firm will produce Answer Qs = 0 Qs = 20 Qs = 40 Qs = 60 Consider a firm in a perfectly competitive industry with the following cost structure: VC (Q) = 10 Q2 + 50 Q, FC = 4000 and MC (Q) = 50 + 20 Q. If the market price is Pm = 40, in the short-run this firm will produce Qs = 0 Qs = 20 Qs = 40 Qs = 60 Qs = 0 Qs = 20 Qs = 40 Qs = 60

Explanation / Answer

Qs = 0

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