the supply curve of any firm is S_i(p)= p/2.If a firm produces 3 units of output, what are its total variable costs?

Name: the supply curve of any firm is S i (p)= p/2.If a firm produces 3 units of output, what are its total variable costs?
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Question

Quizplus · Accepted Answer

The supply curve S_i(p) = p/2 implies that the price p is equal to 2 times the quantity supplied. If the firm produces 3 units, then p = 2 * 3 = 6. The total variable cost is the price times the quantity, so 6 * 3 = 18.

The Supply Curve of Any Firm Is Si(p)= P/2

The Supply Curve of Any Firm Is S_i(p)= P/2