A firm sells its product in a perfectly competitive market where other

A firm sells its product in a perfectly competitive market where other firms charge a price of $70 per unit. The firm’s total costs are C(Q) = 50 + 10Q + 2Q2.

a. How much output should the firm produce in the short run?

b. What price should the firm charge in the short run?

c. What are the firm’s short-run profits?