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The smaller the curvature in a bend of a road, the faster a car can travel. Assume that the maximum speed around a turn is inversely proportional to the square root of the curvature. A car moving on the path (x and y are measured in miles) can safely go 25 miles per hour at
. How fast can it go at
? Round your answer to two decimal places.
Zero Economic Profits
Zero economic profits occur in a competitive equilibrium when firms earn just enough revenue to cover their total costs, including the opportunity costs.
Short Run
A period of time during which at least one of a firm's inputs is fixed, limiting its ability to increase production.
Long Run
A period in economics in which all factors of production and costs are variable, allowing for full adjustment to changes.
Total Revenue
Total revenue is the total income generated by a company from its sales of goods or services before any expenses are subtracted.
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