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.

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Definitions:

Motor neurons

Nerve cells that transmit impulses from the spinal cord or brain to muscles or glands, enabling movements and actions.

Electrolytes

Minerals in the body that have an electric charge, such as sodium, potassium, and calcium, vital for various bodily functions including muscle contractions and the maintenance of fluid balance.

Nerve impulses

Bioelectric signals that transmit information along nerve fibers, facilitating communication within the nervous system.

Calcium

A mineral essential for life, important in bone health, muscle function, and nervous system signalling.