Q: Market demand is P = 50 -2Q. Firm has cost function TC(Q) = 5 + 2Q + Q^2. Can firm function as a…
A: A perfectly competitive market structure is one where there are large number of buyers and sellers.…
Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =1/2 Q2 +30 Q + 10 Determine…
A: Costs refer to the expenses which are made by the firms on the purchase of factors of production.…
Q: A firm has the following revenue and cost functions. TR = 60 Q – Q^2 TC = 1/2 Q^2 +30Q + 30…
A: Given Total revenue function: TR =60Q-Q2 ........... (1) Total cost function: TC =…
Q: Westhouse can sell 30 generator at a price of at most $5,000 dollars and can sell 31 generators at a…
A: Marginal Revenue is considered as the change in the total revenue generated by the firm when it…
Q: Marginal revenue is always less than price at all levels of output in
A: To find: Marginal revenue is always less than the price of any output.
Q: A firm has the following revenue and cost functions. TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30…
A: TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30
Q: A firm operates two plants. The total cost schedules for the respective plants are TC1 = 5*Q1 +…
A: Given: Total Cost of two plants are as follows: TC1=5Q1+0.1Q12TC2=2Q2+0.1Q22 Demand function:…
Q: revenue and cost functions
A: The additional cost occurred due to an extra production unit depicts marginal cost (MC). The…
Q: The Lumins Lamp Company, a producer of old-style oil lamps, estimated the following demand function…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: If change in total revenue Is $300 and the marginal revenue is $30 Find the Change in output
A: The data presented in the question above is:- Change in total revenue = $300 Marginal revenue = $30…
Q: If marginal revenue is $45 and the change In output is 4 units What will be the change in total…
A: The information given to us is:- Marginal revenue = $45 Change in the output = 4 units We have to…
Q: Demand P (q)=500-2q Total Costs C(q)=10+20q . what is marginal cost marginal revenue of this demand…
A: Marginal cost is a cost that arises when firms produce one more unit and is calculated by…
Q: A firm has the following revenue and cost functions. TR= 60 - Q - Q2 TC = 1/2 Q2 + 30 Q + 30…
A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…
Q: Consider the total revenue function, TR = 59 + 9Q + 3Q^2 *Find the marginal revenue (MR) at Q= 4.…
A: Given : Total Revenue Function : TR = 59+9Q+3Q2 Total Cost Function : TC = 55+6Q-7Q2+3Q3
Q: For the following marginal revenue function MR (Q) = 790 - 0.01 Q Assuming that the marginal cost…
A: profit maximization is the short run or long run process by which a firm may determine the price,…
Q: a. What is firm A's profit-maximizing level of output if market price is set at $1.40? _Q b. Firm…
A: Note: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: If total revenue is R =50Q-2Q2. At what value of Q will marginal revenue be 18?
A: R =50Q-2Q2. 18= 50Q- -2(2Q) 18= 50Q - 4Q 18= 44 Q Q= 44/18 Q= 2.44
Q: A firm has the following revenue and cost functions. TR = 60 Q – Q2 TC = 1 2 Q2 +30 Q + 30 Determine…
A: Total business profits are maximum when the difference between business revenue and production cost…
Q: Total cost: TC=50 + 1/2q^2 Marginal cost: MC=q where q is an individual firm's quantity produced The…
A: Variable costs vary based on the amount of output produced. Variable costs may include labor,…
Q: Suppose the revenue function y=R(x) is linear, and points (x,y) of (10,550) and (13,715) are on the…
A: Total Revenue: It refers to the sum of all the receipts from the sale of a good calculated by…
Q: If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm…
A: In a market, an optimal or a Profit Maximizing quantity for a firm is when it is producing at a…
Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC = 12 Q2 +30 Q + 10 Determine…
A: Costs are the expenses that firms incur in the production of goods and services. Revenue is the…
Q: Q6. A firm faces a market demand equation Q= 30 – P and a total cost function of TC (Q) = Q?/2 with…
A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: The total revenue curve of a firm is R (q) = 40q - 12q2 and its average cost A(q) = 1/30q2 - 12.85q…
A: Total revenue, R (q) = 40q - 12q2 Average cost, A(q) = 1/30q2 - 12.85q +20 + 400/q
Q: If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm…
A: A firm will maximise profit where marginal revenue is equal to marginal cost.
Q: Given cost and price (demand) functions C(q)= 110q + 44,600 and p(g) = - 2q + 860, what is the…
A: The increase in income that occurs from the sale of one additional unit of output is known as…
Q: f the marginal revenue is MR=26-Q , find the highest level of production (Q) of the firm when its…
A: It gives the amount of dollars in revenue that a firm collects from selling its one more unit of the…
Q: A paint store sells 270 pails of paint per month at a price of $32 each. A customer survey indicates…
A:
Q: The cost function for the manufacture of x number of goods by a company is C(x) = xvx³ - 10x² +…
A: a.) To find the level of output at which the cost is minimum, find the first-order condition by…
Q: "A profit maximizing firm seeks to produce at an output where its marginal revenue is equal to its…
A: Profit maximization: Profit maximizing firms produces and sells the goods at the point where the…
Q: The marginal cost of production of a firm is given as C'(Q) = 5+ 0.13Q. Also, the marginal revenue…
A: Marginal cost shows the changes in the total cost by producing an additional unit of output while…
Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30q2 − 12.85q +…
A: Solution - Given in the Question - Total Revenue curve of a firm R(q) = 40q -12q2…
Q: referring to the graph above, the profit-maximizing quantity is a. 7 b. more than 10 c. 10 d. 0
A: Profit maximizing quantity is such a quantity where marginal revenue is equal to marginal cost.
Q: The demand function Q- f(p) is given in the graph below, where Q is thousands of units of output,…
A: Thanks for the question but according to the guidelines We solve up to 3 sub-parts at one time.…
Q: A firm faces the demand schedule p = 120-3q and the total cost schedule TC = 120 + 36q+1.2q² a.…
A: We have given demand curve p=120-3q And total cost, TC = 120+36q + 1.2q2
Q: Consider the total revenue function, TR = 53 + 8Q + 6Q^2 Find the marginal revenue (MR) at Q= 6.
A: When a firm develops its total revenue function, it can use this function to compute other…
Q: A firm has a total cost function C(Q) = 100 + 8Q - 8Q 2 + Q 3 and demand function is Qx d = 33 – 2px…
A: Given data: Cost function, CQ=100+8Q-8Q2+Q3 Demand function. Qxd=33-2px
Q: a company's marginal revenue is greater than its marginal cost, then the company should
A: Marginal revenue is the additional revenue earned when an extra unit is sold.
Q: Find the optimum level of output and profit from the cost function TC = 50 + 6Q2 and price P = 100 –…
A: The optimum level of output for a firm at which marginal revenue and marginal cost are equal to each…
Q: The total revenue curve of a firm is R(q) = 40q − 12q^2 and its average cost A(q) =1/30q^2− 12.85q +…
A:
Q: Calculate Marginal profit if the value of marginal revenue is 105 and marginal cost is 60
A: # Marginal profit is calculated by the formula:- Marginal profit = Marginal revenue - Marginal cost…
Q: A price taking firm has zero fixed cost and increasing marginal cost. What quantity does it produce?…
A: A price-taking firm is such a firm that accepts the market price. A market price is a price that is…
Q: If a firm is a price taker, then its marginal revenue will always equal * a)price.…
A: A firm is a price taker under a perfectly competitive market. A perfectly competitive market refers…
Q: Demand P (q)=100-2q Total Costs C(q)=10+20q . Calculate marginal cost marginal revenue
A: Demand P = 100 - 2q Total cost TC = 10 + 20 Q
Q: Calculate the value of marginal profit when marginal revenue Is $400 and the marginal cost is $230
A: # The marginal revenue and marginal cost helps us gain the idea about the marginal profit. The…
Q: Demand P (q)=500-2q Total Costs C(q)=10+20q . Calculate marginal cost marginal revenue
A: Marginal revenue is the additional income generated from the sale of an additional unit or one more…
Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =1/2Q2 +30 Q + 10 Determine…
A: Profit is maximized when MR = MC. MR = dTR/dQ = 120 - 2Q MC = Q + 30
Demand P (q)=100-2q Total Costs C(q)=10+20q . what is marginal cost marginal revenue ?
Step by step
Solved in 2 steps
- Given Cost and Price (demand) functions C(q)=120q+45000 and p(q)=−2.8q+900, what is the marginal revenue when costs are $80,000? The marginal revenue is ____dollars per item.If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm _____.If a firm is a price taker, then its marginal revenue will always equal * a)price. b)zero. c)total cost. d)one.
- A company is the sole producer of holographic TVs. The daily demand for these TVs is Q=10,200 - 100P, where Q is the quantity demanded and P is the price. The cost of producing the TVs is (note that this implies that marginal cost is equal to Q, MC = Q). What is the company’s total revenue schedule? What is the company’s marginal revenue schedule? What is the profit maximising number of TVs that the company must produce each day? What price should it charge per TV? What is the daily profit?A firm has the following revenue and cost functions. TR = 90 Q – Q2 TC = 2Q 2+ 30 Q Determine the quantity level at which the firm maximizes its total profit. (Hint: use marginal revenue = marginal cost rule)The demand equation of a product is p=100/q+10. Find the marginal revenue when q=10.
- Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 70 + 0.10x + 0.001x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ per additional copy marginal profit $ per additional copy Interpret the results. The approximate from the sale of the 501st copy is $ . (c) For which value of x is the marginal profit zero?x = copiesInterpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the profit is at a maximum when you produce and sell copies.Q1. A firm faces the following average revenue (demand) curve: P = 100 - 0.01Q where Q is weekly production and P is price, measured in cents per unit. The firm’s cost function is given by C = 50Q + 30,000. Assuming the firm maximizes profits, a. What is the level of production?Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing output?
- Demand P (q)=500-2q Total Costs C(q)=10+20q . what is marginal cost marginal revenue of this demand and cost function?The total revenue curve of a firm is R(q) = 40q − 12q^2 and its average cost A(q) =1/30q^2− 12.85q + 20 + 400/q ,where q is the firms output. (I) Determine the level of output for which the firm's profit is maximized. (ii) What is the firm's maximum profit?Consider the total revenue function, TR = 53 + 8Q + 6Q^2 Find the marginal revenue (MR) at Q= 6.