Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 75 + 500Q - 5Q2 + 0.5Q3, where MC = 500 - 10Q + 1.5Q2. 
Definitions:
Six Sigma
A set of techniques and tools for process improvement aimed at enhancing the quality and efficiency of operational processes.
Process Capability
A statistical measure of a system or process's ability to produce output within preset specifications.
Business Success
Achieving the intended goals and objectives of a business, often measured by financial performance, market share, or the satisfaction level of stakeholders.
Quality Control
The procedures and measures implemented by a company to ensure that the product or service meets defined standards of quality.
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