Assume a firm working under perfect competition market structure. If the firm produce a product based on its cost function given by TC = TC = 6000 + 400Q – 20Q^2 + Q^3 and If the prevailing market price of the product is 400 birr. A. Determine the quantity of product the firm will choose to produce to maximize profit B. Calculate the total profit/loss the firm made at equilibrium quantity C. Should the firm operate at this price level in the short run and what is the shutdown price level/point D. the break-even point of the firm​



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