Given a firm's cost function C=F(x) = ax +bx+ d: a. Find the firm's Average cost function (A(x) and Marginal cost function M(x). Is C(x) more appropriatc as a long-run or short-run cost function? Explain. Determine whether the Marginal cost funetion is strictly monotonic for a> 0, b>0, and d>9. b. C.

Q: Marginal cost is the slope of both the average variable cost and the variable cost functions. Select…

A: Marginal cost is the change in total cost or total variable cost per unit change in output.

Q: Assume a firm's short-run cost function is given by the following expression: C (q) = 2 + q + q² %3D…

A: The cost function represents the relation between the cost incurred and the quantity of goods…

Q: If a firm's average variable cost curve is rising, its marginal cost curve must be

A: To find: What should be Marginal curve.

Q: A firm producing hockey sticks has a production function given by q = 2vkl In the short run, the…

A: The total cost of production is the simple aggregate of the fixed cost and variable costs, in the…

Q: 4 3. A firm’s production function is q = 8K.25L.75 MPL = 6 K.25L-.25 MPK = 2 K-.75L.75 a. Determine…

A: short-run cost function  and the long-run cost function given below.

Q: Draw a long-run average cost curve for a firm that exhibits economies of scale, constant returns to…

A: The total production process of a firm/company is an amalgamation of various costs, the optimum…

Q: 1) Consider a company that outputs 1,000 doohickies. The company's long-run production function is:…

A: Answer;

Q: For Questions 24 to 28, consider the following total cost function: TC = 75 + 3q² where TC is total…

A: Given given total cost function is: TC=75+3q2 A total Cost function is the one that provide…

Q: When the marginal product of labor diminishes average fixed cost rises average variable cost is…

A: Marginal product of labor is the additional output produced by employing an additional unit of…

Q: A firm has the following production function: q = KL, where q is output, K is capital and L is…

A: A firm has production function: q = KL,  The price of a unit of capital is $1,000  The price of a…

Q: Miguel and Jake run a paper company. Each week they need to produce 1,000 reams of paper to ship to…

A: Marginal rate of technical substitution is the ratio of marginal product of labor and marginal…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||.

A: The cost function is: C(x) = 174+1.7x

Q: When the marginal cost curve lies below the average total cost curve, it is true that as output…

A: Answer to the question is as follows:

Q: y= f(x1,x2)=x1ax2b Derive the equation for an isoquant curve.   If a=b=0.5 , the price of factor 1…

A: y = x1ax2b x2b = y / (x1a) x2 = [y / (x1a)](1/b)

Q: a firm has the production function Q=min{2L,K}, find the cost function in the long run if wage is $2…

A: The provided production function is: Q=min{2L,K}

Q: Suppose a firm’s cost function is C(q) = 4q 2 + 16, where C(q) is the total cost, and q is the level…

A: Given: The firm's cost function is: Cq =4q2 + 16  C(q) is = total cost q is = the level of output:…

Q: In the theory of the firm, economist consider the total cost to be a function of the output level Q:…

A: Answer - According to the mathematical defination of the funtion is that fucntion is a relation…

Q: Which of the following must be falling when the short run marginal cost is less than it, and rising…

A: Total Cost is the sum of the Total Variable Cost and Total Fixed cost of any firm. Total Fixed is…

Q: The cost function for Managerial Enterprises is given by C(Q) = 20 + 30. Determine the marginal…

A: The cost of the production of the goods and services would result in the firms costs. The costs of…

Q: Suppose that the marginal cost of producing a pound of cereal is $2, irrespective of the level of…

A: Marginal cost is in addition to total cost because of producing one more unit of output. Average…

Q: Suppose a firm has production function F(L, K) = L6K.6. Following the steps in the slides, derive…

A:

Q: An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15 Q^2…

A: Total Cost is the cost that includes the fixed cost and variable cost of production. Cost function;…

Q: A firm has an average cost function A(q) =125/q + q2/16 - 4. Where q is the firm's output.   .…

A: The firms tend to behave in such a manner where they can cover up their costs and generate a huge…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||:

A: The total cost function is: Cx=174+1.7x

Q: The production function is y = min{x1 , x2} where x1 and x2 are the amounts of two inputs used. The…

A: Two goods are complements when they are consumed together in fixed proportion.

Q: Suppose a firm uses capital​ (K) and labor​ (L) to produce widgets according to the production…

A: Step1. There was some technical problem while uploading the question. that is why I am writing the…

Q: Month (m): 4 Day (d): 1 Use the two numbers…

A: Fixed cost is that cost which are not depend on the quantity. It's remains same at any output level.…

Q: A firm's long-run total cost curve is given as: TC (q) = 1000q-30q2+q3. At what quantity is the…

A: The minimum efficient scale (MES) is the balance point at which a company can produce goods at a…

Q: imagine your firm has total cost function C = 2q3 – q2 + 40q + 60. Suppose it operates with level of…

A: Total cost is the cost of producing the good for the firm. It includes the cost of all the inputs,…

Q: Compute the long-run costs in the following table. The price per unit of capital is $50 and per unit…

A: Given: Price per unit of capital=$50 Price per unit of labor=$30 The durable goods that are being…

Q: A firm has the following production function where q represents the output level per week, L…

A:

Q: Let the production function be F(K,L) = sqrt(KL) Find the minimum cost for the long run

A: The production function shows the relationship between inputs and output. The rise in inputs causes…

Q: Which of the following statements is a reflection of the fact that the average fixed cost falls as…

A: Total cost (TC) is the sum of fixed cost (FC) and variable cost (VC). i.e., TC = FC + VC…

Q: Suppose a firm faces a cost function of C = 8 + 4q + q^2, so that its marginal cost is MC=4 + 2q. a)…

A:

Q: Suppose that the cost function of q is given by: C(q)=16+4q+q^2 (a) Find the fixed and variable…

A: The cost function is given as:C(q) = q2 + 4q + 16

Q: Consider a producer with the production function y = min {2L, K} and suppose the input prices are…

A: Given, The production function, Y = min(2L, K), w = 1 r = 2 a) The cost function is given by: C = wL…

Q: Provide a diagram that illustrates, for the short-run analysis, the average cost function, the…

A: The firms, and businesses operate with the motive of enhancing their profits, and minimizing their…

Q: Which of the following best describes the isoquants of the production function: q=0.5L+0.3K a.…

A: The production function shows the relationship between the inputs and output of a firm.

Q: A firm´s production function is given by: y = x² where y is the total output per time period, and x…

A:

Q: Explain the following statement by using a graphical analysis: “The long-run average cost curve is…

A: Average cost is the cost of producing one unit of goods and services . It is calculated by dividing…

Q: Suppose that a firm has a short-run cost function C(q) = q2 +1. Part a Find the short-run supply…

A: In a market, a firm’s cost function can provide information about different types of costs such as…

Q: A firm's total cost function is C=24x2−xy+8y2C=24x2−xy+8y2 and they are required to produce a…

A: The total cost function of a firm, C=24x2-xy+8y2 The firm wants to find the total cost of a…

Q: An increase in the firm's cost of a fixed input will in the long-run, cause the

A: An increase in the firm's cost of a fixed input will increase the fixed cost of firm. An increase in…

Q: A firm has an average cost function A(q) =125 +q^2 - 4             q        16 where q is the firm′s…

A: Answer to the question is as follows :

Q: The shape of a firm’s long-run average cost curve depends on how costs vary with the scale of…

A: There are 2 types of cost will occur by any enterprises, 1. Fixed Cost. 2. Variable cost. Fixed will…

Q: A firm has the following Cobb-Douglas production function:         q=(L^α)(K^1-α) 0<α < 1 is a…

A: Production Function: q = LαK1-α In the short run, K = 1. Therefore: q = Lα⇒L = q1α Total Cost: TC =…

Q: he marginal cost curve crosses the* average total cost curve at the maximum of the average total…

A: The Marginal cost is the change in the total cost when one additional unit of output is produced.…

Q: A firm's long-run total cost curve is TC(Q)= 1000Q - 30Q² + Q³. Derive the expression for the…

A: Average cost refers to total cost per unit of output. Marginal cost refers to change in total cost…