a. Find the firm’s optimal quantity (Q), price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR = MC.

b. Suppose instead that the firm can sell any and all of its output at the fixed market price of P = 120. Find the firms optimal output.

### Recently Asked Questions

- Assignment 1: You Are an Entrepreneur! Due Week 7 and worth 240 points Student life does not generally afford a great deal of free time to pursue your personal

- Twenty percent of all cars manufactured by a certain company have a defective trans- mission system. If a dealer has sold 200 of these cars, what is the

- In the Soviet Union, Vladimir Lenin’s New Economic Policy (NEP) and Mikhail Gorbachev’s policy of Perestroika both sought to