Consider a firm running a business in the pure competition setting. This firm's cost function is as follows: c(y) = 4y2 + 3y + 10consistent with the notations used in class%3DWhat 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, y24O B. SG) = 8y + 3, y25OCso) = 4y + 3 +100,y24OD s(y) = 4y + 3 + =, y25100OUESTION 13

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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