Suppose That,in the Long Run,a Dairy's Variable Costs Are VC

question 27

Multiple Choice

Suppose that,in the long run,a dairy's variable costs are VC = 2Q² (where Q is the number of gallons of milk produced each day) ,its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day.In the long run there is free entry into the market.The long run market supply curve is:

• A) vertical at 5 gallons per day.
• B) horizontal at $20 per gallon.
• C) horizontal at $50 per gallon.
• D) horizontal at $100 per gallon.

---

Definitions:

Dissociation

An intellectual activity resulting in a disruption of an individual's thought process, memory, and identity awareness.

Perspective

A particular attitude towards or way of regarding something; a point of view.

Mental State

The condition of an individual’s mind or psyche, including thoughts, emotions, and cognitive functions.

Focused Meditation

A meditation technique where the individual concentrates on a single object, thought, or breathing to increase mindfulness and focus.