Kiersyn

Can someone explain what is a cubic cost function? I'm taking a managerial economics course, but I've never taken any algebra or calculus; so I'm struggling. I'd like to grasp the purpose of what it is and then try to figure out how to do it. thanks!

Does the shut down run rule apply to oligopolies in the same way as it does to perfectly competitive companies for both the short run and the long run?

Wow, this definition is like greek. What is a polynomial function of degree 3? I know what a constant is and also a coefficent. But what is "imposed the condition a!=0? Can someone explain this in a simpler way that doesn't involve algebra or calculus? Th...

sorry - yes, I meant shut down rule - how is the shut down rule different for oligopolies than for a perfectly competitive company?