The Long-Run Cost Function for Jeremy's Jetski Rentals Is: C(q)=

question 53

Essay

The long-run cost function for Jeremy's Jetski Rentals is: C(q)= q².The long-run marginal cost function is MC(q)= 5q.If Jeremy can sell as many jetski rentals as he desires at $50,calculate his optimal output in the long run.

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Definitions:

Dissolution

The process by which a solid, liquid, or gas forms a solution in a solvent.

Joints

Natural fractures or separations in rocks without noticeable movement parallel to the surface of the fracture.

Uplifted

Raised or elevated geological formations, often due to tectonic movements.

Parallel

Lines or planes that are equally distant from each other at all points, never meeting or intersecting.