4 For one period, a firm has fixed cost equal to $8,000 and a marginal cost of$7 per unit of output (g). What is their cost function for one period?A) C = 8000 + 7gB) C = 8000 +C) C = (8000 + q) 7D) C = 8000 + 7g?O AODOBQuestion 5Use the following cost function for a firm in a perfectly competitive industryfor this questionC = 125 + 3q3 - 36q? + 40qAt what level of q does AVC reach a minimum?O 10O 40 6O 2O 3

In a perfectly competitive market there are large number of firms producing similar and identical…

For one period, a firm has fixed cost equal to $8,000 and a marginal cost of $7 per unit of output (q). What is their cost function for one period? A) C = 8000 + 7g B) C = 8000 + %3D C) C = (8000 + q) 7 D) C = 8000 + 7q? O A O B Question 5 Use the following cost function for a firm in a perfectly competitive industry for this question C = 125 + 3q3 -36q2 + 40q At what level of q does AVC reach a minimum? 10 D.

For one period, a firm has fixed cost equal to $8,000 and a marginal cost of $7 per unit of output (q). What is their cost function for one period? A) C = 8000 + 7g B) C = 8000 + %3D C) C = (8000 + q) 7 D) C = 8000 + 7q? O A O B Question 5 Use the following cost function for a firm in a perfectly competitive industry for this question C = 125 + 3q3 -36q2 + 40q At what level of q does AVC reach a minimum? 10 D.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 6PA

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