Question: Suppose that a competitive firm has a total cost function of C(q) = 430 + 15q+ 2q2 and a marginal cost function of MC(q) =

Suppose that a competitive firm has a total cost function of C(q) = 430 + 15q+ 2q2 and a marginal cost function of MC(q) = 15+4q. If the market price is P = $139 per unit, find the level of output produced by the firm. Find the level of profit and the level of producer surplus. The level of output produced by the firm is q = 31 units. (Enter a numeric response using an integer.) The firm's profit is *= $ 1492 . Producer surplus is PS = $

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