A Firm Has a Long-Run Cost Function, C(q) = 3q²

question 10

Multiple Choice

A firm has a long-run cost function, C(q) = 3q² + 108. In the long run, this firm will supply a positive amount of output, as long as the price is greater than

• A) $72.
• B) $80.
• C) $36.
• D) $18.
• E) $41.

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Definitions:

Telepathy

The supposed communication of thoughts or ideas without using the known sensory channels or physical interaction.

ESP

Extrasensory perception, the claimed ability to gain information without relying on known physical senses or deducing from previous experience.

Parapsychology

The study of paranormal and psychic phenomena, including telepathy, precognition, and extrasensory perception.

Sensation

The way in which our sense organs and nervous system perceive and depict the energy of stimuli around us.