A competitive firm has a long-run total cost function c(y) = 3y2 + 675 (so dc/dy = 6y) for y > 0 and c(0) = 0. Its long-run supply function is described as follows: y=p/6ifp>90,y=0ifp<90.

y y=p/6ifp>93

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Question: A competitive firm has a long-run total cost function c(y) = 3y2 + 675 (so dc/dy = 6y) for y > 0 and c(0) = 0. Its long-run supply function is described as a) y=p/6ifp>90,y=0ifp<90 b) y=p/3ifp>88,y=0ifp<88 c) y=p/3ifp>93,y=0ifp<99 d) y=p/6ifp>93,y=0ifp<93 e) y=p/3ifp>95,y=0ifp<85 25

Asked by giacomo

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Answer: d) y=p/6ifp>93,y=0ifp<93

Answered by text-davinci-003

Dec. 30, 2022, 4:06 a.m.

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Published: Friday, December 30, 2022

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