A Firm Has a Short-Run Cost Function C(y)= 3y

question 16

Multiple Choice

A firm has a short-run cost function c(y) = 3y + 11 for y = 0 and c(0) = 8.The firm's quasi-fixed costs are

• A)$8.
• B)$11.
• C)$3.
• D)$7.
• E)They are not possible to determine from this information.

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