Assume a competitive firm faces a market price of $100, a cost curve of: C=0.64q^2+50q+1,600 and...

 

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Assume a competitive firm faces a market price of $100, a cost curve of: C=0.64q^2+50q+1,600 and a marginal cost curve of:: MC =1.28q+50 The firm's profit maximizing output level is 39.06units, the profit per unit is $-15.96, and total profit is: $-623.40. 1. However, if the firm wanted to maximize the profit per unit, how much would it produce? 2. If the firm produced this output level, what would be the profit? Assume a competitive firm faces a market price of $100, a cost curve of: C=0.64q^2+50q+1,600 and a marginal cost curve of:: MC =1.28q+50 The firm's profit maximizing output level is 39.06units, the profit per unit is $-15.96, and total profit is: $-623.40. 1. However, if the firm wanted to maximize the profit per unit, how much would it produce? 2. If the firm produced this output level, what would be the profit?