How much should this firm charge for the product?

Beta industries manufactures floppy disk that consumers perceive as identical to those produced by n Show more Beta industries manufactures floppy disk that consumers perceive as identical to those produced by numerous other manufacturers. Recently Beta hired an econometrician to estimate its cost function for producing boxes of one dozen floppy disks. The estimated cost function is C=20+2Q^2. a. What are the firms fixed costs? b. What is the firms marginal cost? From question c to f assume many other firms in the market sell the product at a price of $10 c. How much should this firm charge for the product? d. What is the optimal level of output to maximize profits? e. How much profit will be earned? f. In the short run should this firm continue to operate or shut down? why? Show less

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