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Suppose a Chemical Company Is in a Perfectly Competitive Industry

Question 2

Multiple Choice

Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of TC = Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of TC = q<sup>3</sup> + 5q<sup>2</sup> + 10q + 10 and a short run marginal cost of SMC = q<sup>2</sup> + 10q + 10.At the price of 49,how many will be produced? A) 0 B) 3 C) 5 D) 15 q3 + 5q2 + 10q + 10 and a short run marginal cost of SMC = q2 + 10q + 10.At the price of 49,how many will be produced?


A) 0
B) 3
C) 5
D) 15

Correct Answer:

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