A Price-Taking Firm's Variable Cost Function Is C = Q³,where

question 46

Multiple Choice

A price-taking firm's variable cost function is C = Q³,where Q is the output per week.It has a sunk fixed cost of $2,000 per week.Its marginal cost is MC = 3Q².What is the profit-maximizing output if the price is P = $192?

• A) 0
• B) 6
• C) 8
• D) 10

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Definitions:

Frustration-Regression Principle

A concept suggesting that when a higher-level need is frustrated, individuals may regress to lower-level needs that are easier to satisfy.

Reactivated Need

A previously satisfied need that becomes active again due to changes in circumstances or environment.

Esteem Needs

Esteem needs are a human's desire for respect, self-esteem, and recognition from others, as posited in Maslow's hierarchy of needs.

Promotion

The act of raising someone to a higher position or rank, often accompanied by increased responsibilities and benefits.