A Firm Has a Short-Run Cost Function C(y) = 3y

question 10

Multiple Choice

A firm has a short-run cost function c(y) = 3y + 14 for y > 0 and c(0) = 10. The firm's quasi-fixed costs are

• A) $10.
• B) $4.
• C) $9.
• D) $14.
• E) They are not possible to determine from this information.

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Definitions:

Reestablish

The act of restoring or bringing something back to its former position or condition.

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Various categories or sorts distinguished by a specific characteristic.

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Financial instruments representing a loan made by an investor to a borrower, typically corporate or governmental, which pays periodic interest payments and returns the principal at maturity.

William James

An American philosopher and psychologist, a leading thinker of the late 19th century known for his contributions to pragmatism and psychology.