If a Representative Firm with Long-Run Total Cost Given by TC

Multiple Choice

If a representative firm with long-run total cost given by TC = 50 + 2q + 2q² operates in a competitive industry where the short-run market demand and supply curves are given by Q_D = 1,410 - 40P and Q_S = -390 + 20P,its long-run profit-maximizing level of output is:

A) 0 units.
B) 1 unit.
C) 2 units.
D) 5 units.
E) 7 units.