Question: Suppose a perfectly competitive firm has the short-run cost function C = 125 + q2. Use the derivative formula or marginal cost to determine the

Suppose a perfectly competitive firm has the short-run cost function C = 125 + q2. Use the derivative formula or marginal cost to determine the firm’s output level and profit at prices of $30 and $20. At what price does the firm reach the shut-down point?

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