Question: stc 40 10q 01q2 smc ...
STC = 40 + 10Q + 0.1Q^2 . SMC = 10 + 0.2Q. The market price is $20.
a. Find the profit maximizing Q.
b. Calculate the maximum profit.
c. Find the average variable cost.
d. In the short run, at what price will this firm close?
e. Find the firm’s short run supply curve and express it as a function of price: Qs (P) = ?