A Competitive Firm Has a Long-Run Total Cost Function C(y)=

question 33

Multiple Choice

A competitive firm has a long-run total cost function c(y) = 5y2 + 1,125 for y > 0 and c(0) = 0.Its long-run supply function is described as

• A)y = p/5 if p > 148, y = 0 if p < 148.
• B)y = p/10 if p > 150, y = 0 if p < 150.
• C)y = p/10 if p > 153, y = 0 if p < 153.
• D)y = p/5 if p > 153, y =0 if p < 165.
• E)y = p/5 if p > 155, y = 0 if p < 145.

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Definitions:

Blood Pressure

The pressure exerted by circulating blood upon the walls of blood vessels, usually measured in the arteries.

Supine Position

A body position where an individual lies flat on their back, facing upward.

Capillaries

Capillaries are the smallest blood vessels in the body, responsible for the exchange of oxygen, carbon dioxide, and other nutrients and waste products between the blood and tissues.

Sphygmomanometer

A medical instrument used to measure blood pressure, typically consisting of an inflatable cuff to restrict blood flow and a mercury or aneroid manometer to measure pressure.