The Snow Removal Business in East Icicle, Minnesota,is a Competitive

question 36

Multiple Choice

The snow removal business in East Icicle, Minnesota,is a competitive industry.All snowplow operators have the cost function C = Q2 + 4, where Q is the number of driveways cleared.Demand for snow removal in the town is given by Qd = 120 - P.The long-run equilibrium number of firms in this industry is

• A)29.
• B)58.
• C)56.
• D)120.
• E)59.

---

Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values; higher values indicate greater variability.

Index Funds

Index funds are a type of mutual fund or ETF with a portfolio constructed to match or track the components of a financial market index, such as the S&P 500.

PHStat

A software add-in for Microsoft Excel that enhances the statistical functions of Excel, commonly used for statistical analysis and education.

Coefficient Of Variation

A standardized measure of dispersion of a probability distribution or frequency distribution, expressed as a ratio of the standard deviation to the mean.