(a) The cost of producing 5-gallon water bottles is given by C(q) = 0.005q² + 2q + 1000. If 2000 5-gallon water bottles are produced, find the %3D (i) total cost (ii) average cost (iii) marginal cost (iv) marginal average cost SBx2 -3 (Bx+2 (b) Suppose that f(x) if X< 2 %3D if x> 2 Find the value of B so that f(x) is continuous everywhere along the real line. (c) The demand for watches is given by p = 7000 - 2q dollars, and the supply of watches is given by p 0.01q? + 2q + 1000 dollars, %3D where q is the number of watches demanded and supplied when the price per watch is p dollars. Based on the information provided, calculate the equilibrium quantity and the equilibrium price for watches.

(a) The cost of producing 5-gallon water bottles is given by C(q) = 0.005q² + 2q + 1000. If 2000 5-gallon water bottles are produced, find the %3D (i) total cost (ii) average cost (iii) marginal cost (iv) marginal average cost SBx2 -3 (Bx+2 (b) Suppose that f(x) if X< 2 %3D if x> 2 Find the value of B so that f(x) is continuous everywhere along the real line. (c) The demand for watches is given by p = 7000 - 2q dollars, and the supply of watches is given by p 0.01q? + 2q + 1000 dollars, %3D where q is the number of watches demanded and supplied when the price per watch is p dollars. Based on the information provided, calculate the equilibrium quantity and the equilibrium price for watches.

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter4: Economic Evaluation In Health Care

Section: Chapter Questions

Problem 7QAP

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