A Competitive Firm Has a Long-Run Total Cost Function C(y)=

question 17

Multiple Choice

A competitive firm has a long-run total cost function c(y) = 3y2 + 675 for y > 0 and c(0) = 0.Its long-run supply function is described as

• A)y = p/6 if p > 90, y = 0 if p < 90.
• B)y = p/3 if p > 88, y = 0 if p < 88.
• C)y =p/3 if p > 93, y = 0 if p < 99.
• D)y =p/6 if p > 93, y = 0 if p < 93.
• E)y =p/3 if p > 95, y = 0 if p < 85.

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Definitions:

Balancing Calories

The process of aligning the number of calories consumed with the number of calories used by the body to maintain a healthy weight.

Sodium And Potassium

Essential electrolytes in the body that play critical roles in maintaining physiological balance, including regulating water content and electrical activity of muscles and nerves.

Folic Acid

A type of B vitamin that is crucial for DNA synthesis, red blood cell formation, and the repair of genetic material.

Calcium Intake

The amount of calcium consumed in one's diet, critical for building and maintaining strong bones and teeth, and necessary for various bodily functions.