Given the marginal revenue function of a company MR = 250 – 8x, then the total revenue from selling 10 units is Select one: Оа. 3.125 O b. 31.25 ос 170 O d. 2100 О е. 2420
Q: After a campus pub increases its output from 3 kegs of beer per day to 11 kegs of beer per day, its…
A: (a) Marginal resource cost, (MRC)= $(550-135)/ (11-3) = 415/8 =$ 51.87
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A: The graph you\'ve posted will probably give you total revenues figures more accurately if you just…
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Q: Based on the following table: Output Price ($) Total Costs ($) 0 10 31 1 10 40 2 10 45 3 10 48 4…
A: The profit maximizing output is the point where the marginal cost is equal to the marginal revenue.…
Q: 4. Given the following total revenue function TR(Q) and the total cost function TC(Q), maximize…
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Q: 12. Prove, using Eq. (4-42), that the long-run supply curve of a competitive firm is more elastic…
A: Introduction Long run supply curve is more elastic because we have enough time for doing…
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Q: demand curve faced by the firm is: P = 230 - 4Q where Q = Q1 + Q2 total cost equations for the two…
A: MC (marginal cost) is the cost incurred by the firm when an additional unit of a good is produced.…
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A: Introduction Profit is basically difference between the total revenue and total cost. But total…
Q: If a perfectly competitive firm which produces two commodities, has the cost function C = 2Q² + 2Q?…
A: Answer: Given cost function: C=2Q12+2Q22 The Hessian matrix will be as given below:…
Q: Q1. A sole producer has a marginal revenue function given by: dTR = 100 – 3Q² %3D OP Is demand…
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Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: a) Output TC MC ATC 25400 104000 0.54 104000/25400= 4.09 50400 154000 1.04 154000/50400= 3.05…
Q: Below are the long-run cost data of a representative firm in a perfectly competitive industry. In…
A: In Perfectly competitive market, Price is constant so it is equal to marginal revenue. At profit…
Q: 22 The total cost and total revenue functions for a product are C(q) = 5,000,000 + 250g + 0.002q²…
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Q: The marginal revenue of a firm is given by the following equation: MR(Q) = 22 + 21Q + 16Q2 Where, Q…
A: The increase in income that occurs from the sale of one additional unit of output is known as…
Q: Given the following total revenue (TR) and total cost (TC) functions for a firm, write down the…
A: Answer: Profit = TR - TC At Q=20 the profit will be maximum.
Q: What is the total revenue (TR) function in terms of Q? O 120,000Q – 10,000 x Q? 12Q - 10,000 O…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 10) Find the marginal and average functions for the following total functions and graph the results.…
A: Total Cost Function C = 3Q2 + 7Q +12 Marginal Cost Marginal cost tell us the cost of producing one…
Q: QUESTION 19 The competitive market price of long-haul trucking is $3 per ton-mile. Red Raider…
A: Answer: Given, Total cost function: TC=29.6875+1.75Q+0.025Q2 Marginal cost function: MC=1.75+0.05Q…
Q: .Mr.Ying is starting a telephone company. The marginal cost for each cell phone is given by the…
A: Given Information , Marginal Cost : C(x) = 0.01x2 + 3x + 229 Marginal Revenue : R(x) = 429 - 2x…
Q: he total revenue curve of a firm is R(q)=40q−12q and its average cost A(q)=130q−12.85q+20…
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first 3 sub…
Q: $12.5 3 $10.0 8.0 $7.5 $5.0 $2.5 $0.0 0 10 20 30 40 50 60 70 80 90 100110120130 Quantity O $10 When…
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Q: 2. A firm can produce up to 500 units each week. If its average cost function is C(x) = 500/x + 1500…
A: We are going to solve question 2 with the concepts such as Profit maximisation and Break-even.
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Q: 8. Daisy's Doggie Treats has a marginal profit function given by m(x) = 0.34e0.02x dollars per bag…
A: Given that marginal profit function m(x) = 0.34e0.02x/ bag If production sales increase to 250 bags…
Q: V. Consider a perfectly competitive nonrenewable natural resource industry for which the marginal…
A: Nonrenewable natural resources are those resources which are not replenished quickly with the using…
Q: A 62 metre length of rope is cut into pieces whose lengths are in arithmetic progressionwitha common…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: In a perfectly competitive market at equilibrium : MR = MC
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A: A profit function is concerned with business applications. If x is the number of units sold, we…
Q: If a perfectly competitive firm which produces two commodities, has the cost function C = 2Q? + 2Q?…
A: The provided cost function is: C=2Q12+2Q22
Q: Suppose that wood industry is a perfectly competitive industry that involves 240 identical firms.…
A: Firms in perfect competition are price takers meaning they sell output at the point where price…
Q: 3) Assume that a fim which produces an output according to the following function is attempting to…
A: We have Production function: q=0.5K1/2+0.5L1/21/2 ....(1) In short run, K=36, P=16, v=1…
Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30 q2 − 12.85q…
A: Given Total Revenue (TR) = 40q - 12q2 Average Cost (AC) = (1/30)q2 - 12.85q + 20 + 400/q
Q: For the following total-revenue and total-cost functions of a firm: TR=22Q - 0.5Q2 TC= (1/3)Q3…
A: The profit is maximized where the marginal revenue (MR) is equal to the marginal cost (MC).
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: A) ATC = TC/Q ATC(1)= 170,000/50,800 = 3.35 ATC(2)= 220000/100,800 = 2.18 ATC(3)= 257,500/150,800…
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A: Given Demand curve P=400-10Q .... (1) Where Q is in thousands of tons produced per year.…
Q: Q9: Given the Average revenue AR = 60 – 3Q a) Find the marginal revenue function. b) Compare between…
A: Here, average revenue curve is given as: AR= 60-3Q According to the AR function, total revenue…
Q: The firm depicted in Figure 7-10 is currently at point F producing 200 units of output per day. If…
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A: Marginal revenue is the total change in TR due to a unit change in output . MR = TR(n) - TR( n-1)
Q: MC ATC MR 20 222426 Units of output Figure 10.3 If this firm is producing the profit-maximizing…
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Q: ii. A firms total cost functions for its two plants (both producing the same single product) are: C1…
A: TC1 = 3q12 +2q1 + 6 TC2 = 2q22 +2q2 + 4 Average Revenue (AR) = 74 - 6q q = q1 + q1
Q: 1) The revenue function of a company is given by R=35x-25,then the marginal revenue when 10 items…
A: In the market, marginal revenue refers to the increment in the total revenue when one more unit is…
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
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Q: P MC ATC 20 -MR 16 5 14 22 Firm 30 40 What is the profit maximizing quantity in the above graph? O…
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A: Answer: Introduction, Average total cost (ATC) average total cost refers to the per-unit total cost…
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: (a) Output TC MC ATC 25000 1,00,000 0.5 4 50000 1,50,000 1 3 75000 1,87,500 2.5 2.5…
Q: Suppose a firm's cost function is C(q) = 4q² + 16, where C(q) is the total cost, and q is the level…
A: A Firm's cost function is given as- C(q) = 4q2 + 16, where C(q) is the total cost, and q is the…
Q: $1q| 15 ,MC AC 11 10 „AVC 40 The above figure shows the cost curves for a competitive firm. If the…
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A: Here, we calculate the given as follow;
Q: Suppose that a firm's profit function is 7 = must be that qı = 2q2. Solve for q, q, T*. Solve for…
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- If a demad function of a firm is Qd= 200-0.5p+4M+60Pr where M(income) is 100 and Pr(price of related good) is 4.TC=50-0.3Q+0.01Q^2. What is thw profit maximizing level of outputThe cost, in millions of dollars, of building a three-story high school in NewYork State was estimated to be: 2C x x x x 1.7 0.14 0.0001 20 400where x is the number of thousands of square feet. Suppose that you arecontemplating building a for-profit three-story high school and estimate thatyour total revenue will be $0.2 million dollars per thousand square feet.(a) What is minimum area for a three-story high school in New YorkState, that this model covers? (b) What is the variable cost of building a three-story high school in NewYork State? (c) What is the fixed cost of building a three-story high school in NewYork State? (d) Determine the profit function,P x( ), for building a three-story highschool in New York State? . (e) Determine,P(250) , for building a three-story high school in New YorkState, and interpret the result. (f) How many thousands of square feet should a three-story high schoolbuilding in New York State be in order to break even?Consider the company that manufactures pens. To make the signature pens, the firm must pay the following expenses each month: variable cost = cv = RM 8 per pair; Fixed cost = cf = RM 3,500 A) If the Monthly sales v= 980 Pens, Calculate the Total cost. B) If the Price per unit of Pens (selling price p = RM 2.75), Calculate the Total revenue and the Profit
- A 62 metre length of rope is cut into pieces whose lengths are in arithmetic progressionwitha common difference of d metres. Given that the lengths of the shortest and thelongest pieces are 0.5 and 3.5 metres respectively, find d.(C) For a firm’s product, the demand function isp = 72 2 0.04qand the average cost function isc¯ =500q+ 30 At what level of output would profit be maximized?1] TEXplor has purchased a 2-year lease on land adjacent to the land leased byClampett. The land leased by TEXplor lies above the same crude oil deposit. Assume each company sinks wells of the same size at the same time. If both companies sinkwide wells, each will extract 2 million barrels in 6 months, but each company willreceive profit of only GHC 1 million. On the other if each company sinks a narrowwell, it will take a year for Clampett and TEXplor to extract their respective shares,but their profits will be GHC14 million apiece. Finally, if one company drills a widewell while the other company drills a narrow well, the first company will extract 3million barrels and the second company will extract only 1 million barrels. In thiscase, the first company will earn profits of GHC 16 million and the second companywill actually lose GHC 1million.1. Illustrate this using a normal form game. 2. Does either firm have a strictly dominant strategy? If yes, what is (are) thesestrategies?…If x items of a commodity are sold to a wholesaler, the price per item is 500 − 2x − 0.1x2 dollars. Compute the marginal revenue derived from the sale of the 11th unit
- TEXplor has purchased a 2-year lease on land adjacent to the land leased byClampett. The land leased by TEXplor lies above the same crude oil deposit. Assume each company sinks wells of the same size at the same time. If both companies sinkwide wells, each will extract 2 million barrels in 6 months, but each company willreceive profit of only GHC 1 million. On the other if each company sinks a narrowwell, it will take a year for Clampett and TEXplor to extract their respective shares,but their profits will be GHC14 million apiece. Finally, if one company drills a widewell while the other company drills a narrow well, the first company will extract 3million barrels and the second company will extract only 1 million barrels. In thiscase, the first company will earn profits of GHC 16 million and the second companywill actually lose GHC 1million.1. What strategy will each firm adopt? Explain your answer. 2. Does this game have a Nash equilibrium? Explain your answer3. Is collusion possible…At P = 25, this firm's total profit will be: a) – $202.5 b) $0 c) $184 d) $7 e) $575To automate one of its production processes, theMilwaukee Corporation bought three flexible manufacturing cells at a price of $400,000 each. Whenthey were delivered, Milwaukee paid freight chargesof $20,000 and handling fees of $15,000. Site preparation for these cells cost $45,000. Six foremen, eachearning $20 an hour, worked five 40-hour weeks toset up and test the manufacturing cells. Special wiring and other materials applicable to the new manufacturing cells cost $3,500. Determine the cost basis(amount to be capitalized) for these cells.
- I need help with d and e e) Using Excel, calculate ?? and ?? for ? = 0,1,2, ... ,24. Verify that the ?? = ?? ruledetermines the same profit-maximizing output as you found in part aBreak-Even The total revenue function for Frenchdoor refrigerators is given by R = 550x dollars, andthe total cost function for this same product is givenby C = 10,000 + 30x + x2, where C is measured indollars. For both functions, the input x is the numberof refrigerators produced and sold.a. Form the profit function for the refrigerators fromthe two given functions. b. What is the profit when 18 refrigerators areproduced and sold?c. What is the profit when 32 refrigerators areproduced and sold?d. How many refrigerators must be sold to breakeven on this product?The Rocky Mountain Publishing Company isconsidering introducing a new morning newspaper inDenver. Its direct competitor charges $0.25 at retailwith $0.05 going to the retailer. For the level of newscoverage the company desires, it determines the fixedcost of editors, reporters, rent, pressroom expenses,and wire-service charges to be $300,000 per month.The variable cost of ink and paper is $0.10 per copy,but advertising revenues of $0.05 per paper will begenerated. To print the morning paper, the publisherhas to purchase a new printing press, which will cost$600,000. The press machine will be depreciatedaccording to a seven-year MACRS class. The pressmachine will be used for 10 years, at which time itssalvage value would be about $100,000. Assume 300issues per year, a 40% tax rate, and a 13% MARR.How many copies per day must be sold to break evenat a retail selling price of $0.25 per paper?