A Firm Has the Short-Run Total Cost Function C(y)= 9y2

question 14

Multiple Choice

A firm has the short-run total cost function c(y) = 9y2 + 144.At what quantity of output is short-run average cost minimized?

• A)4
• B)16
• C)0.75
• D)3
• E)None of the above.

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Definitions:

Fishing in the Ocean

The activity of catching fish in the ocean for commercial, recreational, or subsistence purposes.

Property Rights

Legal rights to own, use, and dispose of assets, which can include intellectual property, land, or personal property.

Common Resources

Resources that are available to all but are susceptible to overuse because of their non-excludable and rivalrous nature, leading to potential depletion or degradation.

Socially Optimal

A state of the market where resources are allocated in the most efficient manner, maximizing the overall benefit to society.