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16. value: 4.00 points 00 points All firms in a competitive industry have long-run total cost...

Question

16. value: 4.00 points 00 points All firms in a competitive industry have long-run total cost...

16. value: 4.00 points 00 points All firms in a competitive industry have long-run total cost curves given by LTCQ = Q2 +4Q.

16. value: 4.00 points 00 points All firms in a competitive industry have long-run total cost curves given by LTCQ = Q2 +4Q. where Q is the firm's level of output. Could any firm actually have this particular LTC curve? (Click to select) Why or why not?

Answers

No, the firm cannot have a long run total cost curve like this because of the fact that we can see that with increase in the quantity the long-run total cost multiplies more proportionately which means it is increasing cost structure and there is no minimum. And is a continuously increasing function but where as a long run cost curve is usually decreasing as well as increasing with the minimum point Which can br considered as the point of operation all in all.

Therefore No is the answer to this question


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