Business, 31.03.2020 00:43, lolomgwtfnvm4

A firm produces a product in a competitive industry and has a total cost function (TC) of TC (q )equals50plus2qplus2q squared and a marginal cost function (MC) of MC (q )equals2plus4q. At the given market price (P) of $18, the firm is producing 5.00 units of output. Is the firm maximizing profit? No . What quantity of output should the firm produce in the long run? The firm should produce 4 unit(s) of output. (Enter your response as an integer.)

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A firm produces a product in a competitive industry and has a total cost function (TC) of TC (q )equ...