Suppose That There Are 1,000 Firms in a Perfectly Competitive

question 12

Multiple Choice

Suppose that there are 1,000 firms in a perfectly competitive industry, each with a short-run total cost curve given by TC = 800 + 8Q + 0.1Q² and marginal cost curve given by MC = 8 + 0.2Q. The short-run profit-maximizing output level for each firm at a market price of $20 is ____.

• A) 70
• B) 60
• C) 50
• D) 0

---

Definitions:

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature in the workplace or academic setting.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Charter of Rights and Freedoms

A foundational legal document in Canada that guarantees fundamental rights and freedoms to its citizens.

Sexual Orientation

An enduring emotional, romantic, sexual, or affectional attraction towards others, recognized as an aspect of personal identity.