Suppose There Are 100 Firms Each with a Short Run $\mathrm { Q } _ { \mathrm { S } } = - \frac { 1 } { 2 } + \frac { 1 } { 2 } \mathrm { P }$

question 34

Multiple Choice

Suppose there are 100 firms each with a short run total cost of STC = q² + q + 10,so that marginal cost is MC = 2q +1.The market supply curve is

• A)QS = -50 + 50P
• B) \(\mathrm { Q } _ { \mathrm { S } } = - \frac { 1 } { 2 } + \frac { 1 } { 2 } \mathrm { P }\)
• C)QS = -100 + 100P
• D)QS = -50 + 50q²

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Definitions:

Histograms

Graphical representations of the distribution of numerical data, where the data is grouped into bins or intervals.

Graphical Techniques

The use of plots, charts, and graphs to visualize, interpret, and analyze data.

Distribution

In statistics, it refers to the way in which values of a variable or a set of variables are spread or dispersed across a range of values.

Magnitude

A quantitative measure of size or extent, often used in context to describe the importance or severity of a variable or event.