For a Perfectly Competitive Firm $S T C = 100 + 20 q + q ^ { 2 } \text { and } S M C = 20 + 2 q$

question 23

Multiple Choice

For a perfectly competitive firm, $S T C = 100 + 20 q + q ^ { 2 } \text { and } S M C = 20 + 2 q$ , where q is output. If the market price is equal to 40, at what level of output should the firm operate to maximize profit in the short run?

• A)10
• B)20
• C)30
• D)40

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Definitions:

Validation

The recognition and acceptance of another person's thoughts, feelings, sensations, and behaviors as understandable.

Distress Tolerance

The ability to endure emotional discomfort or pain without attempting to avoid or escape it.

Self-care

The practice of taking an active role in protecting one's own well-being and happiness, particularly during periods of stress.

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