Suppose a Firm's Total Cost Function Is Given by TC

question 140

Multiple Choice

Suppose a firm's total cost function is given by TC = 6,000 + 2Q + 0.25Q², where MC = 2 + 0.5Q. The output level that minimizes average total cost is ____.

• A) 154.9
• B) 175
• C) 150
• D) 0

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Definitions:

Industrious

Describes a person who is hardworking, diligent, and persistent in their efforts, often leading to productive outcomes.

Industrious

Characterized by hard work, diligence, and a strong work ethic.

Skills Valued

Abilities or proficiencies that are highly regarded and sought after in various contexts, such as in the workplace or personal life.

Culture

A system of shared beliefs, norms, behaviors, and expectations that persist over time and prescribe social behavior and assumptions.