3. For the technologies y=min{x.4x, } and y=+x, compute: a) the total cost and the cost of production of 1 unit of output, b) the marginal and average cost. Assume that prices of inputs are (4, 6). the cost finotion for th Loontiof toohnology ond linoor

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A: The answer is as follows:-

Q: 1 3. For the technologies y=min{*,4.x, } and y=+x, compute: 4 a) the total cost and the cost of…

A: Marginal cost (MC) is the addition to the total cost by producing one more unit of output. Average…

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A: The total cost function is a relationship between total cost and output level and input prices. It…

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A: Total cost is a sum of fixed cost and variable cost.

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Q: dTC = 25 + 30Q – 9Q² dQ MC = and fixed cost, FC = 55 , find the (i)total 6. Given marginal cost,…

A: According to the question MC = 25 + 30Q – 9Q^2 and FC = 55

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Q: Output TFC TVC TC MC ATC A 25 25 --- --- ---- -- В 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E…

A:

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A: Average Fixed Cost is the total fixed cost per unit of output.  AFC = TFC/Q

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A: Q = LM Q = 160,000 MPL = dQ/dL = M MPM = dQ/dM = L

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Q: 3. For the technologies y=min- ,4x, } and y=- +x, compute: 4 a) the total cost and the cost of…

A: TC = total cost MC= marginal cost AC= average cost.  The prices of inputs are (4,6)

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A: The given table is completed as follows:

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A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

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A: Average fixed cost refers to the fixed cost per unit.

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A: Total cost = Fixed cost + Variable cost Total cost = average total cost * q