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

question 66

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 total cost is ____.

• A) 154.9
• B) 175
• C) 150
• D) 0

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Definitions:

Cuba

An island nation in the Caribbean known for its significant cultural heritage, historical socio-political events, and current communist government.

American Expansionism

A policy and ideology that advocates for the territorial or economic expansion of the United States across North America and beyond, historically through methods such as colonization, annexation, and war.

Overseas Trade

The exchange of goods, services, and capital between countries across international borders or territories.

U.S.S. Maine

Battleship that exploded in Havana Harbor on February 15, 1898, resulting in 266 deaths; the American public, assuming that the Spanish had mined the ship, clamored for war, and the Spanish-American War was declared two months later.