A Firm Has Fixed Costs of $2,000

question 31

Multiple Choice

A firm has fixed costs of $2,000.Its short-run production function is y = 4x^1/2, where x is the amount of variable factor it uses.The price of the variable factor is $3,000 per unit.Where y is the amount of output, the short-run total cost function is

• A)5,000y.
• B)2,000 + 3,000y.
• C)2,000/y + 3,000.
• D)2,000 + 187.50y2.
• E)2,000y + 0.19y2.

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Definitions:

Responsibility

The state or fact of being accountable or to blame for something, holding a duty to deal with tasks or care for someone.

Power Distant Cultures

Societies that maintain a significant level of inequality in power distribution among their members, often accepting hierarchical relationships as a cultural norm.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Assimilation

The process through which individuals from minority groups gradually adopt the cultural norms of the dominant or majority group, losing distinct aspects of their original cultures.