Give Me a Pane, Inc., distributes window glass to hardware
and building supply chains located throughout the Northeast. Like several grain
and commodity markets, the market for common single-pane glass is perfectly
competitive. The company’s technology defines a marginal cost per pound of
single-pane glass given by the relation:
MC = $1.00 + $0.0001Q
where Q is pounds of single-pane glass.
A. Calculate the industry price necessary for the firm to
supply 10,000, 20,000, and 30,000 pounds.
B. Calculate the quantity supplied by the firm at industry
prices of $1.50, $2.50, and $3.50 per pound.
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