Consider a firm running a business in the pure competition setting. This firm's cost function is as follows: c(v) = 4y2 + 3y + 10 consistent with the notations used in class. What is the long-run supply function and the range of output level that makes the firm stay in the business? O A.S(y) = 8y + 3. y24 O B. S(y) - 8y + 3, y25 OCSO) = 4y + 3+ %3D %3D 100 y24 OD S(y) = 4y + 3 + 100 -. y25
Consider a firm running a business in the pure competition setting. This firm's cost function is as follows: c(v) = 4y2 + 3y + 10 consistent with the notations used in class. What is the long-run supply function and the range of output level that makes the firm stay in the business? O A.S(y) = 8y + 3. y24 O B. S(y) - 8y + 3, y25 OCSO) = 4y + 3+ %3D %3D 100 y24 OD S(y) = 4y + 3 + 100 -. y25
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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