Use the Following to Answer Questions

question 24

Multiple Choice

Use the following to answer questions :
Scenario: Monopolistically Competitive Firm
For a monopolistically competitive firm,the demand curve is given by Q = 160 - P,and the firm's cost functions are MC = 20 + 2Q and TC = 20Q + Q² + 20.
-(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,what is the fixed cost for this firm?

• A) There is none since this is the long run.
• B) Fixed costs equal $160.
• C) Fixed costs equal $20.
• D) Fixed costs equal $180.

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Definitions:

Tympanometry

A diagnostic test that measures the movement of the eardrum in response to changes in air pressure, used to detect fluid in the middle ear or Eustachian tube dysfunction.

Tympanic Membrane

Also known as the eardrum, it is a thin layer that separates the outer ear from the middle ear and vibrates in response to sound waves.

Middle Ear

The air-filled space located between the eardrum and inner ear containing the auditory ossicles.

Binaural

Pertaining to or involving both ears, often used to describe hearing processes that use input from both ears to perceive sound.