If a Representative Firm with Long-Run Total Cost Given by TC

Multiple Choice

If a representative firm with long-run total cost given by TC = 2,000 + 20q + 5q² operates in a competitive industry where the market demand is given by Q_D = 10,000 - 40P,the long-run equilibrium output of the individual firm's will be:

A) 10 units.
B) 20 units.
C) 30 units.
D) 35 units.
E) 40 units.