A Competitive Firm Has a Long-Run Total Cost Function C(y)

question 16

Multiple Choice

A competitive firm has a long-run total cost function c(y) = 3y2 + 675 for y > 0 and c(0) = 0. Its long-run supply function is described as

• A) y =if p > 90, y = 0 if p < 90.
• B) y =if p > 88, y = 0 if p < 88.
• C) y =if p > 93, y = 0 if p < 99.
• D) y =if p > 93, y = 0 if p < 93.
• E) y =if p > 95, y = 0 if p < 85.

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