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- Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of 25 each. What will be the companys profits or losses? How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? At the given quantity and price, is the marginal unit produced adding to profits?answer this question bu not on excelWhy Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. Thanks
- Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given byTC(g)=171+g^2 and her Marginal Costs are given by MC(g)=2q. What is her minimum AverageTotal Cost?The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?b. Five Sales Executives have been told by their company Heavy Machines Limited (HML) that eachsales executive, will be relocated to work at one of five branches of their company, in theCaribbean. The cost to relocate a sales executive at each of the five branches is shown in Table 8below: SalesExecutiveBranchJamaica Antigua/Barbuda Trinidad&TobagoBarbados St. LuciaZenk Murt $2,550 $2,300 $ 2,700 $2,300 $2,400Rangle Tang $2,400 $2,700 $2,800 $2,600 $2,400Atil Heglam $2,600 $2,400 $2,700 $2,500 $2,400Justop Brelim $2,400 $2,500 $3,000 $2,400 $2,500Mesk Lathim $2,400 $2,300 $2,500 $2,800 $2,700 The costs shown in Table 8, are in Eastern Caribbean (EC) dollars. (i) Determine the optimal relocation of the five Sales Executives.
- a) Assume that the output of a company is given by y (K, L) = K^0.5 * L^0.5, where the amount of capital on shortterm is given by K = 1 and wage costs are given by w = 1. Calculate and illustrate themaverage variable costs and marginal costs (marginal costs).b) In addition, assume that the price of capital is given by r = 1. Calculate the average totalsthe costs and illustrate using a figure where you also include the marginal cost asyou found in a). Comment on what you find.(Minimizing Loss in the Short Run) Explain thedifferent options a firm has for minimizing losses in theshort run.A firm produces two different kinds, A and B, of a commodity. The daily cost of producingx units of A and y units of B isC(x, y) = 2x2 − 4xy + 4y2 − 40x − 20y + 514Suppose that the firm sells all its output at a price per unit of $24 for A and $12 for B. Findthe daily production levels x and y that maximize profit. (Be sure to show your first andsecond order conditions.)
- Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?A firm is producing 20 units with an averagetotal cost of $25 and a marginal cost of $15. Ifit increases production to 21 units, which of thefollowing must occur?a. Marginal cost will decrease.b. Marginal cost will increase.c. Average total cost will decrease.d. Average total cost will increase.There's also an answer D that was cut off d) II