Explore BrainMass

Market Supply.

I do not know how to work the answers for part b or c of the attached file.


Solution Preview

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) ...

Solution Summary

Market Supply.