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

question 31

Multiple Choice

A competitive firm has a long-run total cost function c(y) = 2y2 + 288 for y > 0 and c(0) = 0. Its long-run supply function is described as

• A) y =if p > 46, y = 0 if p < 46.
• B) y =if p > 51, y = 0 if p < 54.
• C) y =if p > 48, y = 0 if p < 48.
• D) y =if p > 51, y = 0 if p < 51.
• E) y =if p > 53, y = 0 if p < 43.

Familiarize with the concepts of poverty threshold, poverty rate, and their determinants and implications.

Comprehend the roles of the petty bourgeoisie and proletariat within Marx's theory of class conflict.

Evaluate the criticisms and developments in the status attainment model.

Develop critical thinking and analytical skills by constructing and answering relevant sociological questions.

---

Definitions:

Advertising Media

Advertising media are the various platforms or channels used to convey promotional messages to target audiences, such as TV, radio, print, and online.

Reach

The number of different people or households exposed to an advertisement.

CPM

CPM stands for Cost Per Thousand Impressions, a metric used in advertising to denote the price of 1,000 advertisement impressions on one webpage.

GRP

Gross Rating Point, a standard measure in advertising denoting the reach and frequency of a particular advertisement or campaign.