Suppose That a Firm's Long-Run Total Cost Curve Can Be $T C = 10 Q ^ { 2 } + 20 Q$

question 12

Multiple Choice

Suppose that a firm's long-run total cost curve can be expressed as $T C = 10 Q ^ { 2 } + 20 Q$ . This firm's long-run average total cost curve can be expressed as

• A) \(A C = 20 Q + 20\).
• B) \(A C = 10 Q + 20\).
• C) \(A C = 10 + 20 Q\).
• D) \(A C = 10 Q ^ { 2 }\).

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Definitions:

Probability Distribution

A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.

Occurrences

Occurrences refer to the instances or events of something happening or being present in a particular context or dataset.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events happening in a fixed interval of time or space, assuming these events occur with a known constant mean rate and independently of the time since the last event.

Number Of Calls

A metric often used in telecommunications to describe the total volume of calls made or received within a specified period.