A firm has a total cost function C(Q) = 100 + 8Q - 8Q 2 + Q 3 and demand function is Qx d = 33 – 2px Required: %3D (i) Calculate the firm's marginal cost when Q = 5
Q: company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…
A: (a) Total cost is the sum of fixed cost and variable cost. Fixed cost for manufacturing the sink is…
Q: The total revenue curve of a firm is R(q) = 40q – 12q² and its 400 average cost A(q) =9 – 12.85q +…
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Q: Q5: If the marginal cost (MC) of a firm is a function of output, C'( Q) = 10e0.5Q , and if the fixed…
A: If we have the marginal cost function, we can integrate to find the total cost. MC= 10e0.5Q…
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A: The profit is maximized where the P=MC.
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A: Cost elasticity refers to the responsiveness of cost with respect to the change in output level . It…
Q: C denotes the cost function and x denotes multiplication, Qs denotes the square of Q. C equals to 75…
A: Marginal cost (MC) assesses the cost born by a business unit in producing an extra unit of its…
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Q: For a certain production process, fixed costs are $60,000. Variable costs are $30 per unit of…
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Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost (MC) at Q= 6.
A: The total cost function is, TC = 25 + 6Q - 5Q2 + 6Q3 Marginal Cost (MC) is defined as the change in…
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A: Marginal profit is the profit earned by a firm after the production and sale of an additional unit.
Q: Marginal cost is given by the function :- 2Q2 - 130 And the equilibrium quantity is 10 so…
A: # Marginal cost measures the degree of change taking place in total cost of the firm.
Q: For the cost function C(Q) = 100 + 4Q + 19Q2 + 2Q3, what is the marginal cost of producing the…
A: Answer to the question is as follows:
Q: Given prices for the two inputs as w1 = 1, w2 = 2, find the cost function of the (attached)…
A: Answer to the question is as follows:
Q: The cost to produce x units is given by C ( x ) = 0.03x2 + 8.8x + 1600 + 6.8 square root of x. Find…
A: Marginal-Cost(MC) is the cost(c) of producing one additional unit. Given the cost-function(c(x)),…
Q: Suppose that the manager of a firm operating in a competitive market has estimated the firm's…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Suppose that the total cost function of a firm is TC = 1000 + 10Q2 c) At the minimum output, what is…
A: The given total cost function is, TC=1,000+10Q2 At the minimum output, the average cost incurred by…
Q: The cost function for the manufacture of x number of goods by a company is C(x) = x3-9x2+24x. Find…
A: Given the cost function, the marginal cost (MC) equation is; C(x) = x3-9x2+24xMC=∂C(x)∂x=3x2-18x+24
Q: The marginal cost function of a company is given by MC 5+x, and the cost of producing 2 umits is 712…
A: Fixed costs are costs that do not change when sales or production volumes increase or decrease.Fixed…
Q: If the market quantity demanded and quantity supplied functions are: QD = 187 - 4P Qs = 49 + 9P and…
A: Given:Qd = 187 - 4PQs = 49 + 9PMC = 2 + 3q
Q: A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost…
A: C(x,y) =x2 + xy + 8y2 + 700x +y = 1800
Q: The price-demand equation and the cost function for the production of table saws are given,…
A: (Since there are many subparts in the question, we are going to answer the first three subparts…
Q: Suppose that the marginal-revenue function for a manufacturer's product is = 100 – q², the…
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A: Cost is a function of the quantity produced. It measures the cost incurred in the production of…
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A: In Economics, marginal cost is the change in the total cost that arises when the quantity produced…
Q: The demand equation of a certain product is p=90-q-q². The total cost function is c=50+q-0.1q². Find…
A: Profit refers to the portion of the total revenue that is left to a producer once all factor inputs…
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Q: For the cost function below, where C is the cost of producing x units of a product, find the…
A: Power Rule: d/dx (xa) = axa-1 where a is constant. And MC = C'(x)
Q: A firm's total cost function is: C = 6x2 - xy + 10y2 + 30, subject to the production quota x + y =…
A: Given:- Total cost function: C=6x2-xy+10y2+30 Production quota: x+y=34 To calculate:- Constructing…
Q: Suppose a firm faces the following cost function: C(q) = 36 + 16q – 8g² + 2q%
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Q: In a production process, the cost structure indicates 40+3Q as the extra cost as a result of…
A: Break even point is where the TC(total cost) is equal to the TR(total revenue). It means that there…
Q: +300, where p is the price in dollars. If the price, in terms of the cost c, is expressed as 352…
A: Given information:Demand, D(p) = -P2352+300P(c) = 4c - 36
Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…
A: Given data: Fixed cost is $4000 dcdq=1q+8
Q: 50,000-qg %3D 25,000 for 0 <a< 50, 000 Suppose that the cost function for the product is given by…
A: Profit is the collective earnings of a firm, adjusted for cost. Profit = Total Revenue - Total Cost
Q: If the production function is q = min{L, K/3} and the price of L is $3 per unit (w=3), and the price…
A: Given Production function q=minL,K/3 ... (1) Price of labor (w) = $3 Price of capital…
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A: Given : Demand Function : p=2x2+10x+1000 Average Cost Function : c¯=2x2+36x-1600-20x
Q: A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3. Suppose the firm is…
A: LRTC=160Q-0.6Q2+0.02Q3Now,Slope of LRTC=dLRTCdQSlope of LRTC=160-1.2Q+0.06Q2Q=100Slope of…
Q: The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000…
A: Given: Total cost function C(q) = -2q3 + 60q2 + 1000 First, we will find the average cost function…
Q: If the marginal revenue in dollars per unit for a month is given by MR= −0.04x + 36, find the total…
A: Total revenue (TR) function can be derived by using the following formula.
Q: The price-demand equation and the cost function for the production of table saws are given,…
A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub-parts per…
Q: Suppose the cost function is C(Q) = 50 + Q − 10Q2 + 2Q3. What is the marginal cost of producing 10…
A: Here, cost function is given as: C(Q) = 50 + Q − 10Q2 + 2Q3 To find: marginal cost of 10th unit.
Q: Given a cost function C(x), which returns the total cost of producing x products, the average cost…
A: Total cost function C(x) = 80x+150
Q: Suppose the revenue function for the sale of a product is r(x)= -3x^2+30x and the cost function is…
A: * SOLUTION :- Given that, The revenue function R(x) = -3x^2+30x The cost function C(x)= 6x
Q: Water is produced and sold by the government. Demand for water is represented by the linear…
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Q: A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3. Suppose the firm is…
A: Cost elasticity shows the degree of response to a change in output due to a change in cost. Given…
Q: The unit price of a product is given by P(X) = 200 - 0,01X and the total cost function C(x) = 50X +…
A: Given : P(X) = 200 - 0.01X C(x) = 50X + 20.000
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- A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (b) Find a function for the average cost of this company?A firm's demand and total cost function are given by the expression: P = 20 - Q/2 (1) TC = 0.5Q2 + 36 (2) Where P is price per unit in £ TC = total cost in £ Q is quantity demanded and produced. Find the profit-maximising level of output using the profit function and calculate how much profit is made at this output level.A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (c) If production increases continuously, what is likely to be the average cost per sink?
- The inverse demand function and cost function is given by P= 50-2Q and C = 10+2Q Calculate the total cost.The demand function for a firm is; Qd = 122,000 - 500P + 4M +10,000PR where, Qd is quantity demanded, P is price per unit. M is income, and PR the price of a related good. The estimated the valueS of M and PR will be Rs 3200 and Rs 4, respectively. The firm's estimated average variable coSt function IS; AVC = 500 - 0.03Q + 0.000001Q2 a. Find the profit maximizing level of output of the firm and the price to charge. b. Should the manager continue production or shut down? Explain your answer. c. Find the level of output at which the average variable cost is at its minimum.A firm can sell its output at the price p=10 per unit. The firm’s cost function is C=16+q2 To maximize its profit, the firm chooses to produce q=_________. The profit of this firm is $__________
- The total revenue curve of a firm is R (q) = 40q - 12q2 and its average cost A(q) = 1/30q2 - 12.85q +20 + 400/q, where q is the firm's output. Derive and expression C(q) for the firm's total cost function.Suppose the (inverse) demand for a firm’s product is given by P = 10−2Q and the cost function is C(Q) = 2Q What is the profit-maximizing level of output and price for this firm?Suppose that the manager of a firm operating in a competitive market has estimated the firm’s average variable cost function to be AVC = 10 – 0.03Q + 0.00005Q2, TFC = 60. What is the MC function? What is the output where AVC is minimum? What is the optimum profit?
- Suppose that the total cost function of a firm is TC = 1000 + 10Q2c) At the minimum output, what is the value of total cost d) Find the marginal cost (MC) functionGiven a firms demand function Q-90+2P=0 and it's average cost function AC=Q²-8Q+57+2/Q. Find the level of output which maximises marginal cost.Suppose a firm has a marginal cost function given by MC(q)= q+1. What is the firm's total cost function?
