Suppose There Are 100 Firms Each with a Short Run

question 12

Multiple Choice

Suppose there are 100 firms each with a short run total cost of STC = q² + q + 10,so that marginal cost is MC = 2q +1.The supply curve for each firm is

• A) P = 2q + 1
• B) P = q² + q + 10
• C) P = q + 1 +
• D) P = q + 1

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Definitions:

Profitability Ratios

Financial ratios that are used to measure the ability of a company to turn sales into profits and to earn profits on assets and owner’s equity committed.

Primary Financial Records

Essential documents that record and detail the financial activities and condition of a business or individual, such as income statements, balance sheets, and cash flow statements.

Benchmarking

The process of comparing one's business processes and performance metrics to industry bests or best practices from other industries.

Financial Ratios

Quantitative measures derived from financial statements used to evaluate a company's financial performance and condition.