A Firm Has a Short-Run Cost Function of TC(q) =

question 3

Multiple Choice

A firm has a short-run cost function of TC(q) = 100 + 2q + 3q².What is the firm's fixed costs?

• A)3q².
• B)2q
• C)It depends on the level of q
• D)80
• E)100

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Definitions:

HDC

Holder in Due Course, a term in commercial law referring to a person who has acquired a negotiable instrument in good faith and for consideration, and thus has certain rights above the original parties.

FTC Rule 433

Known as the Holder in Due Course Rule, it protects consumers by allowing them to make claims directly against creditors in certain credit transactions.

HDC Doctrine

Refers to the Holder in Due Course doctrine, which provides protections to purchasers of negotiable instruments who take them in good faith, for value, and without notice of certain defects.

Consumer Transactions

The purchase and sale of goods or services between a buyer, typically an individual or household, and a seller for personal use.