The shot-run marginal cost of the Ohio Bag Company is 2Q. Price is $100/bag. The company operates in a competitive industry. Currenly, the company is…

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The shot-run marginal cost of the Ohio Bag

Company is 2Q. Price is $100/bag. The company operates in a competitive industry.

Currenly, the company is producing 40 units per period. What is the optimal short-

run output? Calculate the prots that Ohio Bag Company is losing through suboptimal

output. Clearly show your calculations and illustrate your answer using a well-labeled

graph.

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