In a Certain Industry, the Supply Curve of Any Firm

question 11

Multiple Choice

In a certain industry, the supply curve of any firm is S_i(p) = p/2.If a firm produces 6 units of output, what are its total variable costs?

• A)$34
• B)$72
• C)$54
• D)$36
• E)There is not enough information given to determine total variable costs.

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Definitions:

Uncertainty Avoidance Cultures

Societies that have a low tolerance for ambiguity and uncertainty, often relying on strict rules and procedures to manage situations.

Long-Term Employment

A work arrangement where an employee is engaged with an organization for an extended period, often leading to greater job security and benefits.

Short-Term Orientation

A perspective or approach that focuses on achieving immediate results rather than long-term goals.

Sustained Commitments

Ongoing dedication or obligation to a course of action, policy, or goal over a long period.