A Competitive Firm Has the Short-Run Cost Function C(y)= 2y3

question 47

Multiple Choice

A competitive firm has the short-run cost function c(y) = 2y3 - 16y2 + 64y + 50. The firm will produce a positive amount in the short run if and only if the price is greater than

• A) $16.
• B) $64.
• C) $32.
• D) $35.
• E) $31.

---

Definitions:

Behavioral Economics

A field of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

Policymakers

Individuals or groups responsible for making decisions and crafting regulations or laws in various sectors, including government, organizations, or institutions.

Quirky Decisions

Unconventional or unexpected choices made by individuals or organizations that do not always align with mainstream expectations.

Behavioral Economics

A branch of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.