A Firm Has a Long-Run Cost Function, C(q)= 9q²

question 9

Multiple Choice

A firm has a long-run cost function, C(q) = 9q² + 9.In the long run, this firm will supply a positive amount of output, as long as the price is greater than

• A)$36.
• B)$44.
• C)$9.
• D)$18.
• E)$23.

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Definitions:

Quasi-contract

A legal concept that is treated as a contract so that one party is not unjustly enriched at the expense of another, even though no actual contract exists.

Implied in Law Contract

A contract created by a court, not through an agreement between parties, but to avoid unjust enrichment or injustice.

Contract with Robert

An agreement made with an individual named Robert, specifying obligations and rights concerning a particular matter or transaction.

Enforcement of Promise

The act of ensuring that a promise, especially one formalized in a contract, is fulfilled according to its terms.