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Long run total cost function

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Reference no: EM131271026

A competitive rm has a long run total cost function c(y) = 3y2 +243 for y > 0 and c(0) = 0.

Its long run supply function is described as follows:

(a) y = p=6 if p > 54; y = 0 if p

(b) y = p=3 if p > 52; y = 0 if p

(c) y = p=3 if p > 57; y = 0 if p

(d) y = p=6 if p > 57; y = 0 if p

(e) y = p=3 if p > 59; y = 0 if p 49.

Reference no: EM131271026

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