uppose that a competitive firm's marginal cost of producing output q (MC) is given by MC (q) equals6plus2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce 4.5 units of output. (Enter your response rounded to two decimal places. ) What is the firm's producer surplus? Producer surplus (PS) is $ 20.25. (Enter your response rounded to two decimal places. ) Suppose that the average variable cost of the firm (AVC) is given by AVC (q) equals6plus1q. Suppose that the firm's fixed costs (FC) are known to be $20. Will the firm be earning a positive, negative, or zero profit in the short run? In the short run, the firm's profit will be positive zero positive negative.
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Home » Business » uppose that a competitive firm's marginal cost of producing output q (MC) is given by MC (q) equals6plus2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce 4.