The Hamilton Company is a member of a perfectly competitive industry. Like all members of the industry,

Question:

The Hamilton Company is a member of a perfectly competitive industry. Like all members of the industry, its total cost function is
TC = 25,000 + 150Q + 3Q2
where TC is the firm's monthly total cost (in dollars) and Q is the firm's monthly output.
a. If the industry is in long-run equilibrium, what is the price of the Hamilton Company's product?
b. What is the firm's monthly output?