Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![A firm has the long- run total cost function TC(O) = 24Q + 3Q³ – 12Q2. In the long run, it
will supply a positive amount of output, so long as the price is greater than or equal to:
a. $15
5
%3D
b. $7
c. $3
d. $22
e. $12](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F390faf21-9cfd-470b-9e40-50b400b5c319%2Fc33d3178-6432-4c0d-aa18-597e65cb243a%2Fumkfbqg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm has the long- run total cost function TC(O) = 24Q + 3Q³ – 12Q2. In the long run, it
will supply a positive amount of output, so long as the price is greater than or equal to:
a. $15
5
%3D
b. $7
c. $3
d. $22
e. $12
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