A Firm Has a Long-Run Cost Function, C(q) = 4q²

question 11

Multiple Choice

A firm has a long-run cost function, C(q) = 4q² + 4. In the long run, this firm will supply a positive amount of output, as long as the price is greater than

• A) $8.
• B) $4.
• C) $24.
• D) $16.
• E) $13.

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Definitions:

Common Ground

Shared interests, beliefs, or knowledge that enable better understanding and communication between people.

Creative and Innovative

Possessing the ability to create original ideas and to implement them into practical and novel solutions or products.

Legally Binding

A contract or agreement that is enforceable by law and must be adhered to by the parties involved.

Emotional Connection

A bond formed between individuals based on feelings of affection, empathy, or shared values.