7. If the Marginal Cost for a product is found to be MC = 10eº.5x, and the Marginal Revenue is given as MR = 1300 and the cost of 10 units is found to be $4000, what are: a. the Total Cost Function? b. the Fixed Cost value? c. the Total Profit Function? d. the production level, x, that yields Maximum Profit? e. the corresponding Maximum Profit value?

Q: e) The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC is the…

A: The short-run cost function of a company is given as: Total Cost: TC = 200 + 55q where; TC = total…

Q: Which firms have diseconomies of scale over the entire range of output?  a. Firm 1 b. Firm 2 c.…

A: In the long run, as the inputs are of variable nature, a firm’s expansion activities can either…

Q: You are analyzing a new company’s records projecting their profits using a marginal profit function,…

A: We are going to use marginal approach to answer this question.

Q: The following is a Cobb-Douglas production function: Q = 1.75K0.6L0.5. What is correct here? *…

A: Since the sum of coefficient of L and K is higher than 1 (= 0.5 + 0.6 = 1.1), there are increasing…

Q: firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is…

A: Marginal Cost (MC): - it is the additional cost incurred due to the production of an additional…

Q: A firm’s product sells for $4 per unit in a highly competitive market. The firm produces output…

A: The marginal product of capital MPk is the additional output when one more unit of capital is used…

Q: ii) Listed in the table is the short-run total cost for Firm C. Output 1 2 3 4 Cost 20 39 57 74 90…

A: The diminishing return means the marginal cost should increase as the output increases.

Q: A firm has two plants that produce identical output. The costs functions are C,=10g-4q² + q³…

A: TC1 = 10q - 4q2 + q3  AC1 = TC1/q AC = 10 - 4q + q2 Average cost will be minimum when it's…

Q: 9. For the cost function C(Q) = 100 + 20 - 302, the marginal cost of producing 2 units of output is…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 6. If the Marginal Cost for a product is found to be MC = 8x + 60, and the Marginal Revenue is given…

A: We are going to use Profit maximization method to answer this question. Use differentiation and…

Q: A firm has the following total revenue and total cost schedules: TR = $2Q. TC = $5,500 + $1.3Q.…

A: Given:- TR=$2Q TC=$5500+$1.3Q To calculate:- Break even output level and profit at 8600 unit sale=?…

Q: What is the formula to calculate profits?

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: 1. The firm's fixed costs are $2,000, and the firm's total costs of producing 100 units is $4,000.…

A: Total cost is the sum total of fixed cost and variable cost.

Q: X and Y are factors of production. X's marginal product is 30 and Y's marginal product is 20. X=5…

A: Total cost is minimized when (MPx / Px) = (MPy / Py) Here, MPx / Px = 30/5 = 6 MPy / Py = 20 / 4 = 5…

Q: In the short run, when a firm produces 60 units of output, its total fixed cost is $120. Then the…

A: Total Cost is the sum total of fixed cost and variable cost incurred in the production of all the…

Q: Suppose a firm’s cost function is given by C(q) = 20 + 10q − 4q^2 + q^3 (a) What is fixed cost? (b)…

A: Given information: We have given the cost function.  i.e., C=20 + 10q - 4q2 + q3 The cost function…

Q: 3. Suppose the firm's production function is given by F(K,L) = min (Kt,Lt) (a) Derive the long-run…

A: The fixed proportion production function, f(K,L) =Q= minK13,L13 In this production function, the…

Q: Question 1. The marginal cost function of a company is given by C'(q) = 3q² – 24q + 210 rand/unit…

A: Before solving the above problem, let us first understand some key concepts relating to costs in…

Q: When a firm produces one unit, the variable cost is $3. When the firm produces  two units, the…

A: Given information: Variable cost when the firm produces 1 unit = 3 Variable cost when the firm…

Q: (a) How can you tell if these cost curves are for the short run or the long run? (b) What does the…

A: Total costs TC equals TFC plus TVC. Total fixed costs (TFC) are the total payment of the firm on…

Q: What is the difference between economic profit and accounting profit? What is a normal rate of…

A: As per honor code, we’ll answer only one question at a time , we have answered the first question…

Q: (Production in the Short Run) Complete the following table. At what point does diminishing marginal…

A: Marginal product refers to the additional output that obtained by increasing one more unit of…

Q: a) What is the Long-run cost function if the production function is q = L+ K ? b) Many marginal cost…

A: MARGINAL COST CURVE: A graph that depicts the link between a firm's incremental cost within the…

Q: A firm has the following total revenue and total cost schedules: TR = $3Q. TC = $4,000 + $1.7Q.…

A: Break-even is the point at which revenue and total costs are equal, indicating that the business is…

Q: A company is planning to manufactureand market a new two-slice electric toaster. After conducting…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: A firm produces identical outputs at two different plants. If the marginal cost at the first plant…

A: The firm seeks to maximize the profit. The profit is maximized where the MR=MC. Firm can use its…

Q: Is each of the following statements true or false? In either case, briefly justify your answer. (a)…

A: Answer a. Economies of scale describe a condition in which the average cost reduces as the volume of…

Q: A firm has a Cobb-Douglas production function, q = 2L^0.5K^0.5 . If it faces prices of w = 20 and r…

A: q=2L0.5×K0.5q=2L0.5×(100)0.5q=2L0.5×10q=20L0.5L=q202L=q2400

Q: The data in the table below represents Total product (TP), for an agri-business involved in potato…

A: Here the capital is fixed and Labour is increasing it means the production function is of short run…

Q: Suppose that production for good X is characterized by the following production function, Q =…

A: The fixed cost refers to the cost that does not change with change in the level of output.  While…

Q: Assume the short run variable cost function for Japanese beer is VC=0.6q^0.8 If the fixed cost (F)…

A: Variable cost:  VC = 0.6q0.8 Fixed cost:  F = 1500 -------

Q: Which statement must be false? a)  When a firm has increasing returns to scale in production, its…

A: Increase return to scale : where production  increase proportionally same as input increased. .…

Q: A firm produces output according to a production function Q = F(K, L) = min {4K, 8L}. a. How much…

A:

Q: onsider a production function Q = (K1/2) + (L1/2) + (M1/2) where L, K, M represent labor, capital,…

A: Given Production function Q = (K1/2) + (L1/2) + (M1/2) Price of L, K, M are 1,1,and 1 Q=12

Q: Tex has a small plant that produces storm windows. Its total revenue function is ?? = 5.4?, and the…

A: As we answer only 3 subparts and the question has more than 3 subparts, so we would be answering the…

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: The two types of costs incurred by a company producing goods and services are fixed costs and…

Q: Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: When a firm produces one unit, the variable cost is $8. When the firm produces two units, the…

A: Marginal cost is the addition to the total cost. Total cost consists of total fixed cost and…