Suppose that company XYZ produces an undifferentiated product in a single plant in a highly competitive market. The price is determined by market...

Suppose that company XYZ produces an undifferentiated product in a single plant in a highly competitive market. The price is determined by market factors like demand and supply and therefore given. The current market price of the product is $70 per ton and XYZ does not expect it to change in the foreseeable future. Assume that XYZ's cost function is equal to TC = 450 - 10Q +2Q