Hi please help me with the below questions a

If the firm is a price taker and the

Question

Hi, please help me with the below questions:

a. If the firm is a price taker and the

price of each unit of output is $30 in the short run. What is the quantity, the price, and total economic profits, at its profit maximizing equilibrium? Explain the long run equilibrium if the industry is perfectly competitive and there is free entry and exit.