I do not know how to work the answers for part b or c of the attached file.© BrainMass Inc. brainmass.com June 21, 2018, 10:10 pm ad1c9bdddf
For part b)
given that the market is perfectly competitive, you know that the profit maximizing rule is P = MC
the first blank says price = $50, thus the firm should produce 2 units (the mc for 2 units is also 50).
The TC (total cost) ...