Is this correct ??

2. A rm sells its product in a perfectly competitive market where other rms charge a price of $90 per unit. The rm's total costs are C(Q) = 50 + mg + 2Q2. a. How much output should the rm produce in the short run? SetP= MC mot" (50+10Q+2Q2' 10 + 4Q = 90 4Q+10 = 90 4Q=so Q=20 b. What price should the rm charge in the short run? $90. The rm is operating in a market of perfect competition, which makes them a price taker. If the rm charges more than the market price, the rm would not be able to sell any output, and it wouldn't make sense to sell below the market price. 0. What are the rm's short-run prots? Prots = TRTC TR = 90Q = 90(20) = 1,800 TC = so + 10(20) + 2(20)2 = so+200+soo = 1,050 moo1,050 = $75 d. What adjustments should be anticipated in the long run? Because of prots being earned in the short run, their will be more rms entering the market. Supply will increase, which will drive down the price. The price will fall until the prots earned by each rm is zero