Suppose that, in the long run, a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run, there is free entry into the market. What is the dairy's total cost function?
A. TC = 2Q2 + 4Q
B. TC = 4Q + 50
C. TC = 2Q2 + 50
D. TC = 2Q2 + 4Q + 50
C. TC = 2Q2 + 50
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
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A) $3 B) $9 C) $12 D) $13.50 E) none of the above
The failure of the mercantilism policy and the tax policy during the Great Depression proves that economic policies are meaningless and they do more harm than good
a. True b. False Indicate whether the statement is true or false