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:

Hunger

A physical sensation and physiological need prompting the desire to eat, driven by the body's energy requirements.

Esteem Needs

in Maslow's hierarchy of needs, the fourth level, including self-esteem, confidence, achievement, respect of others, and respect by others.

Safety Needs

According to Maslow's hierarchy, these are the second tier of human needs, including security and protection from physical and emotional harm.

Physiological Needs

Basic elements necessary for human survival and function, such as air, water, food, shelter, and sleep.