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.

---

Definitions:

Shared Power Strategy

An approach in leadership and management where power and decision-making responsibilities are distributed among various stakeholders to encourage collaboration and engagement.

Change Strategies

Planned approaches and methods to implement changes within an organization or system, aiming to improve it or adjust to new conditions.

Assessing Change

The evaluation of modifications, developments, or shifts in a situation or environment, often to understand impacts or plan accordingly.

Political Maneuvering

The strategic actions and tactics used by individuals or groups to navigate or influence political environments and outcomes.