A firm has a long-run cost function, C(y) = 8y2 +72 if y > 0

| November 24, 2016

Question
1) A firm has a long-run cost function, C(y) = 8y2 +72 if y > 0 and 0 otherwise. In the long run, what is the price above which this firm will supply a positive amount of output?
(2) A firm has a long-run cost function, C(y) = 3y2 + 108 if y > 0 and 0 otherwise. In the long run, what is the price above which this firm will supply a positive amount of output?

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