Suppose the Total Cost to Produce Quantity Q Is TC(q)=

question 93

Multiple Choice

Suppose the total cost to produce quantity q is TC(q) = q²/10+250. If this firm is a price- taker and the market price is p = 10, then the firm's output will be:

• A)240.
• B)250.
• C)260.
• D)0.

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Definitions:

Foreign Exchange

The exchange of one currency for another or the conversion of one currency into another currency.

Imperfectly Competitive

A market structure where not all participants have equal ability to influence prices, with variations in products and control.

Marginal Revenue

The additional revenue that will be generated by increasing product sales by one unit.

Output

Output refers to the quantity of goods or services produced by a company, industry, or economy within a certain period.