Suppose a Firm's Total Cost and Marginal Cost Are Given

question 119

Multiple Choice

Suppose a firm's total cost and marginal cost are given by TC = 200 + 10Q + 9Q² and MC = 10 + 18Q. The output level that minimizes average total cost is ____.

• A) 22.22
• B) 20
• C) 18
• D) 10

Explain the concepts of biotic potential and environmental resistance.

Understand dispersion patterns and their ecological implications.

Differentiate between r-selected and K-selected species and their reproductive strategies.

Recognize the importance of conservation biology and strategies for protecting ecosystems.

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Definitions:

Grade Equivalent

A measure indicating the school grade level of students to whom a test taker's performance is most similar.

Achievement Test

A type of ability test that measures what one has learned. Types of achievement tests include survey battery tests, diagnostic tests, and readiness tests.

Percentiles

A measure that indicates the value below which a given percentage of observations in a group of observations falls.

Stanines

Derived from the term “standard nines,” this is a standardized score frequently used in schools. Often used with achievement tests, stanines have a mean of 5 and a standard deviation of 2, and range from 1 to 9.