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Suppose a Chemical Company Is in a Perfectly Competitive Industry TC=13q3+5q2+10q+10\mathrm { TC } = \frac { 1 } { 3 } \mathrm { q } ^ { 3 } + 5 \mathrm { q } ^ { 2 } + 10 q + 10

Question 26

Multiple Choice

Suppose a chemical company is in a perfectly competitive industry and has a short run total cost curve of TC=13q3+5q2+10q+10\mathrm { TC } = \frac { 1 } { 3 } \mathrm { q } ^ { 3 } + 5 \mathrm { q } ^ { 2 } + 10 q + 10 and a short run marginal cost of SMC = q2 + 10q + 10.At the price of 385,how much will be produced?


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

Correct Answer:

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