You Are a Manager in a Perfectly Competitive Market

question 7

Essay

You are a manager in a perfectly competitive market.The price in your market is $35.Your total cost curve is C(Q)= 10 + 2Q + .5Q².
a.What level of output should you produce in the short run?
b.What price should you charge in the short run?
c.Will you make any profits in the short run?
d.What will happen in the long run?
e.How would your answer change if your costs were C(Q)= 80 + 5Q + 30Q²?

---

Definitions:

Preconventional

A stage in Kohlberg's theory of moral development where behavior is motivated by anticipation of pleasure or pain rather than by societal rules or conventions.

Conventional

Pertaining to methods or practices that are widely accepted and used, typically because they have been established over time.

Postconventional

A stage in moral development where individuals make ethical decisions based on universal principles and the greater good, beyond societal norms.

Intimate Partner Violence

Abuse or aggression that occurs in a romantic relationship, encompassing physical, sexual, emotional, economic, or psychological actions or threats.