17.1 REVENUE, COST, AND PROFIT APPLICATIONSTSO SYAHD 797 20 A firm sells each unit of a product for $50. The total cost of producing x (thousand) units is described by the function C(x) = 10 – 2.5x² + x³ where C(x) is measured in thousands of dollars. (a) Use the marginal approach to determine the profit-maximizing level of output. (0) What is total revenue at this level of output? Total cost? Total profit?

Q: 7. A firm has determined that its variable costs are given by the following relationship: VC = .05Q'…

A: Variable cost: This cost fluctuates with the change in the factors of production.

Q: The graph of the total profit P(x) (in dollars) from the sale of x cordless electric screwdrivers is…

A: Total profit of a firm is equal to the difference between firm's revenues and its costs. Marginal…

Q: 4. 16 where q is the firm's output. (i) Determine the level of output for average costs are minimum.

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: 5. A firm pays $320 per day in rent for equipment used to make shoes. The total cost of producing 20…

A: Given: Rent for equipment=$320 per day Total Cost of 20 pairs=1200

Q: The answer in the textbook says when x>5 how do you get that ?

A:

Q: 12. In the figure below, the vertical difference between curves Fand G measures Costs per unit TC…

A: If we look at the vertical distance between F and G you will see that initially there is a higher…

Q: 38) Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental…

A: here we can find the correct option as follow

Q: 85 45 30 25 10 D. 10 18 20 32 Q cefer to the graph, at quantity 32 Marginal Cost (MC) is

A: here we find the cost curve and answer the following as follow-

Q: Total Total Average Average Dutput (Q) Fixed Variable Total Variable Total Marginal Cost Cost Cost…

A: Note: You have uploaded more than one question at a time. Hence, we shall solve only the first one…

Q: Q1.It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: Suppose a firm's cost function is C(q)= 4q² + 16, where C(q) is the total cost, and q is the level…

A: (c) The total cost function is given and the marginal cost can be calculated by derivation the total…

Q: Section 4.2.2 claims that the firm never extracts to a level at which marginal profit is…

A: The profit which is procured by a firm or person when one extra or negligible unit is delivered and…

Q: .Mr.Ying is starting a telephone company. The marginal cost for each cell phone is given by the…

A: Given Information , Marginal Cost : C(x) = 0.01x2 + 3x + 229 Marginal Revenue : R(x) = 429 - 2x…

Q: total cost is $ c. At the optimal level of output, total revenue is $ and profit is d. If the…

A: whether it is perfect competition or imperfect competition market the condition for equilibrium is…

Q: can you  answer part iv and v?

A: For question number 4 and 5, Total revenue TR = 40q – 12q2 AC(q) = 1/30 q2 – 12.85 q + 20 + 400/q…

Q: If a firm has an accounting profit it must have an economic profit. O True O False

A: Profit = total revenue - total cost

Q: A firm's profit function is A(a) = R(q) - C(a) = 160q - (410 + 40g + 10q²). What is the positive…

A:

Q: ONE A. Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company…

A: The equations are given as follows:  MC=q+35MR=560+22q-q2                                       We…

Q: 8. Daisy's Doggie Treats has a marginal profit function given by m(x) = 0.34e0.02x dollars per bag…

A: Given that marginal profit function m(x) = 0.34e0.02x/ bag If production sales increase to 250 bags…

Q: A bakery operating in competitive markets sells itsoutput for $20 per cake and rents ovens at $30…

A: A bakery is operating in perfectly competitive market where it sells output for $20 per cake and…

Q: 33. An economist analyses the long run costs of a firm. It is found that the marginal cost of…

A: Marginal cost is the total cost that increases when the quantity produced is increased, the cost of…

Q: Problem 9: Given below is the cost schedule of a firm. Its average fixed cost is 20 when it produces…

A:

Q: 11.2 The cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their…

A:

Q: If Daniel sells 250 hamburgers at a price of $3.00, and his average cost of producing 250 hamburgers…

A: Profit is the difference between total revenue and total cost.

Q: 7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x –…

A:

Q: Suppose that each firm in a competitive pizza market has the following identical cost: Total cost:…

A: Answer: Given, Total cost function: TC=25+1.5Q2 The following formulas will be used: (1). Fixed cost…

Q: Michael Scott's recently founded paper company, aptly named "Michael Scott Paper Company" sets the…

A: Given Information Total Cost = 3q +10Price = $5.5/reamTotal Revenue = $34,100

Q: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for…

A: Given fixed cost = 420 Variable cost = 2.10

Q: 14. Marginal Revenue and Profit The Audubon Society at Enormous State University (ESU) is planning…

A: The firms should have their estimates of the cost and the revenue functions for promoting the events…

Q: .2 Exercise 2 Consider a competitive firm with total cost function C(a) = F + 3q+ 3 or all q > 0,…

A:

Q: Suppose that each firm in a competitive pizza market has the following identical cost:  Total cost:…

A: Total cost is the addition of the fixed cost and the variable cost.

Q: 13. The marginal profit for the new X-99 pogo stick is P'(x) = -0.1x + 60 where x is the number of…

A: Total revenue refers to the total quantity of goods and services sold. It can be calculated by…

Q: Audra runs a movie memorabilia website. Last year, she earned $35,000 in revenue and had explicit…

A: Economic profit is the revenue that is left after paying explicit and implicit cost of a business.

Q: Mesut Özil sells ready-to-eat kebabs. Mesut buys kebabs from his supplier for $c each and has no…

A: Introduction  Marginal cost function  It is a derivate of total cost function c(x)

Q: (iv) How many 750ml bottles of dish washing liquid should Teddy J produce per month if he wishes to…

A: Profit maximizing quantity is when marginal revenue MR = Marginal cost MC. To find the quantity…

Q: 150 120 Marginal Revenue 30 -30 3 6 9 12 15 21 24 27 30 QUANTITY (Units) Comparing your total…

A: Total revenue is the product of price and output. Marginal revenue is the additional income in…

Q: The graph of the total profit P(x) (in dollars) from the sale of x cordless electric screwdrivers is…

A: Profit function = Total Revenue - Total Cost

Q: If a firm has total revenue of $100,000, the owner's labor in the firm is valued at $20,000, and the…

A: find below the answer.

Q: A manufacturing firm has a total cost curve: TC = 0.2Q3 - 5Q2 + 50Q + 240,  and a marginal cost…

A: Protection of good incurred costs. Cost refers to the amount that is incurred for using the factors…

Q: 3) A firm produces 50 000 boxes in one month and market price of these shoes is 10 TL per box. The…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: The cost and revenue functions for a company that manufactures x table saws are given. R(x) = 200x –…

A: By dividing total revenue(TR) by quantity(x) we will get the average revenue(AR) and by dividing…

Q: The table below shows the total cost for producing various quantities of shampoos. Use the given…

A: Total cost is the sum of fixed cost and variable cost.  Fixed cost remains the same at each level of…

Q: . (20 points) A firm has a cost function c = 0.5g³ – q² + q. (a) What is its fixed cost? (b) At what…

A: Total cost consists of fixed cost and variable cost. Fixed cost is constant and does not depend on…

Q: runction 125 q? 4. 16 A(q) where q is the firm's output. (iv) Write an equation for the total cost…

A: Part: 1 The total cost(TC) function is the cost of producing total output. The formula for TC is…

Q: Comment why is this point significant analytically.

A: Marginal cost is defined as the change in total cost that results from the production of an…

Q: Q2)  A shop which sells T-shirts has a demand function and a total cost function given by the…

A: Profit maximising situation for the firm occurs when MR = MC . And the profit is maximised at this…

Q: Suppose the cost data below are for Shopify. a firm based in Waterloo, Ontario that is in an…

A: Marginal Cost is the change in total cost with respect to change in total output. We are going to…

Q: Q1 It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold…

A: Since posted multiple sub-part, we will answer first three sub-parts.