If $\vec { u } = 2 \vec { i } + 2 \vec { j }$

question 19

Essay

If $\vec { u } = 2 \vec { i } + 2 \vec { j }$ and $\vec { v } = 2 \vec { i } - 2 \vec { j }$ , find the values $c _ { 1 }$ and $C _ { 2 }$ such that $18 \vec { i } + 6 \vec { j } = c _ { 1 } \vec { u } + c _ { 2 } \vec { v }$ .

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Definitions:

Long Run

A period in which all factors of production and costs are variable, allowing companies to adjust to changes in the market.

Monopolistically Competitive

A market structure where many competing producers sell products that are differentiated from one another (e.g., by branding or quality) and hence are not perfect substitutes.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, measuring the firm’s performance beyond its accounting profit.

Long Run

A period in economics where all factors of production and costs are variable, allowing for full adjustment to any change.