Suppose That the Perfectly Competitive Market for Granola Bars Is

question 69

Multiple Choice

Suppose that the perfectly competitive market for granola bars is made up of identical firms with long-run total cost functions given by TC(Q) =8Q³-40Q² + 200Q. Assume that these cost functions are independent of the number of firms in the market and that firms may enter or exit the market freely. Market demand is Q^D = 8,000 - 3.5P, where price is in cents. In the long-run equilibrium, there are ____ firms in the industry.

• A) 3,000
• B) 2,990
• C) 2,880
• D) 2,770

---

Definitions:

Behavioral Theorists

Researchers and psychologists who study and explain human behavior through various theories, often focusing on the effects of environment and learning.

Social-Cognitive Learning

A theory that emphasizes the importance of observational learning, imitation, and modeling in acquiring new behaviors.

Intersexuality

A term used to describe a variety of conditions in which an individual is born with reproductive or sexual anatomy that doesn’t fit typical definitions of male or female.

Chromosomal Anomalies

Genetic disorders resulting from changes in the number or structure of chromosomes, leading to physical or developmental abnormalities.