Suppose That Each Firm in a Perfectly Competitive Market Has

question 5

Multiple Choice

Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 75 + 500Q - 5Q² + 0.5Q³, where MC = 500 - 10Q + 1.5Q². The output that minimizes the firm's AVC is ____.

• A) 10
• B) 7
• C) 5
• D) 0

---

Definitions:

Pour

Pour refers to the act of flowing or transferring a liquid from one container to another.

Intravenous

Pertaining to the administration of drugs, fluids, or nutrients directly into a vein.

Parenteral

Pertaining to medical treatments not administered through the digestive tract, often involving injections through intravenous, intramuscular, or subcutaneous routes.