Suppose a Chemical Company Is in a Perfectly Competitive Industry $\mathrm { TC } = \frac { 1 } { 3 } \mathrm { q } ^ { 3 } + 5 \mathrm { q } ^ { 2 } + 10 q + 10$

question 26

Multiple Choice

Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of $\mathrm { TC } = \frac { 1 } { 3 } \mathrm { q } ^ { 3 } + 5 \mathrm { q } ^ { 2 } + 10 q + 10$ and a short run marginal cost of SMC = q² + 10q + 10.At the price of 385,how much will be produced?

• A)0
• B)3
• C)5
• D)15

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Definitions:

Self-Efficacy Expectations

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments, reflecting confidence in the ability to exert control over one's own motivation, behavior, and social environment.

Psychologically Hardy

The characteristic of being resilient in the face of stress and adversity, involving qualities like commitment, control, and challenge.

Irrational Beliefs

Misguided, unrealistic thoughts and convictions that can lead to unproductive emotions and behavior, often examined in the context of cognitive-behavioral therapy.

Catastrophizing

A cognitive distortion involving an irrational thought pattern where an individual expects or exaggerates the worst possible outcome in a situation.