revenue and cost functions

Q: Find the marginal revenue function for the total revenue function given by 1 TR(Q) = 500Q- Find the…

A: a)TR(Q)=500Q-13Q3Now,MR=∂TR∂QMR=∂(500Q-13Q3)∂QMR=500-33Q3-1MR=500-Q2

Q: In economics, a firm earns a normal profit when its total revenue equals its total economic costs.…

A: In economics, a firm enjoys normal profit when the difference between the total revenue and the…

Q: The inverse demand function and cost function is given by P= 50-2Q and C = 10+2Q Calculate the total…

A: Demand function, P = 50 -2Q Cost function , C= 10 +2Q

Q: act as a price-taker in the market, the market price of the firm's product is 20. The firm's cost…

A:

Q: A firm has the following revenue and cost functions. TR = 60 Q – Q^2 TC = 1/2 Q^2 +30Q + 30…

A: Given  Total revenue function: TR =60Q-Q2           ........... (1) Total cost function: TC =…

Q: A firm faces the following average revenue (demand) curve: P= 130 - 0.02Q where Q is weekly…

A: Firm maximizes profit by producing at a point where marginal revenue is equal to marginal cost

Q: A firm's short-run demand curve for a resource is also the firm's: average cost curve of the…

A: Marginal Revenue Product : In simple terms, the marginal revenue product of a resource is the…

Q: Assume a firm's supply function for a good is given by the following expression: qs (p) = p−10…

A: qs (p) = p−10…

Q: The total revenue curve of a firm is R (q) = 40q - 12q2 and its average cost A(q) = 1/30q2 - 12.85q…

A: Total revenue, R (q) = 40q - 12q2  Average cost, A(q) = 1/30q2 - 12.85q +20 + 400/q

Q: A firm has the following revenue and cost functions. TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30…

A: TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30

Q: The cost function for a firm in perfect competition is given as C(Q) =Q³-8q²+5 . Find the profit…

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Q: Suppose that a firm’s fixed costs is $80, and variable costs per unit are $(2Q + 16). The demand…

A: The break-even point is where the total revenue is equal to total cost. This means what the firm…

Q: A firm has the following revenue and cost functions: TR = 100 Q – 4Q2 TC = 300 +40 Q + 2Q2 Determine…

A: Given TR= 100Q-4Q2  TC= 300+40Q+2Q2  The condition for profit maximization is  MR=MC MR is the…

Q: Define Q to be the level of output produced and sold, and assume that the company total cost…

A: The firms in every market are the sellers, suppliers, or the producers of goods, and services. The…

Q: C = 250,000 + 40Q + 0.01Q2, and market demand function: P = 940 – 0.02Q            (a) Determine…

A: Total cost function represents the total cost as the sum of the fixed costs and the variable costs…

Q: A firm has the following revenue and cost functions. TR= 60 - Q - Q2 TC = 1/2 Q2 + 30 Q + 30…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: Table: Total Cost for a Perfectly Competitive Firm Quantity per Period Total Cost s10 16 2 20 3 22…

A: MC= TC2-TC1/Q2-Q1

Q: Firms experience a break even point when a. Total revenue is greater than total cost b. Marginal…

A: In break-even, total revenue is equal to total cost (= variable cost + fixed cost), so the firm…

Q: Sergio Lopez is a publisher of Latin American poetry.  His fixed cost is $525, and the cost to…

A: Fixed cost is $525, and the cost to produce each individual copy of his book is $3.50.   A linear…

Q: The price-demand and cost functions for the production of microwaves are given as p = 215 80 and…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: demand function is given by P = 25 - Q and Total cost function TC = Q. Calculate firms price and…

A: In a perfect competition, the equilibrium condition is where price is equal to marginal cost.

Q: A firm has the following revenue and cost functions. TR = 60 Q – Q2 TC = 1 2 Q2 +30 Q + 30 Determine…

A: Total business profits are maximum when the difference between business revenue and production cost…

Q: If a firm makes zero economic​ profit, then the firm A. has total revenues greater than its…

A: The difference between the total revenue received by the firm from its sales and the total…

Q: Suppose that the marginal-revenue function for a manufacturer's product is = 100 – q², the…

A: The demand function of a good represents the relationship between price and quantity demanded of a…

Q: The figure shows graphs of the total cost function and the total revenue function for a commodity.…

A: The function that represents the total cost as being the sum of the variable costs and the fixed…

Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =  Q2 +30 Q + 10…

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Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =  Q2 +30 Q + 10…

A: The monopolists maximize their output at the output level where marginal revenue equals marginal…

Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC = 12 Q2 +30 Q + 10 Determine…

A: Costs are the expenses that firms incur in the production of goods and services. Revenue is the…

Q: How many of the following will occur with a linear total revenue curve? (i) A linear cost curve (ii)…

A: Total revenue refers to the value of all the goods and services sold in the market. The total…

Q: In a given market the inverse demand function is P = 170 - Q per year. The interest rate is r= 0.05…

A: Meaning of Monopolistic Competition: The term monopolistic competition refers to the situation…

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: R(q) = 40q − 12q2  A(q) = 1/30 q2 − 12.85q + 20 + 400/q Total cost = A(q) * q

Q: Here is the production cost function, in $ of producing q units of a product: 2200 C(q) = 300 +0.8q2…

A: Since you have posted multiple questions with multiple subparts, as per guidelines, we are supposed…

Q: The difference between economic profit and accounting profit is that economic profit is calculated…

A: Economic profit is reffered as the total revenue of the firm (from sales) minus the costs of all…

Q: In a production process, the cost structure indicates 40+3Q as the extra cost as a result of…

A: Break even point is where the TC(total cost) is equal to the TR(total revenue). It means that there…

Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30q2 − 12.85q +…

A: Solution - Given in the Question - Total Revenue curve of a firm R(q) =  40q -12q2…

Q: 3. Given the total profit and the fixed cost TFC is 40, variable cost are 2 then the total revenue…

A: The method for Total Revenue is as follows: Number of Products Sold x Price Per Product = Total…

Q: the average variable cost curve. the marginal cost curve. the average fixed cost curve. the marginal…

A: A natural monopoly firm experience economies of scale, i.e., a decrease in ATC as output increases.…

Q: A firm has a short-run total cost function given as STC =q³5q² + 25q. a. If P = 100, identify the…

A: Answer; a)   Profit maximising quantity , q = 15   Profit = 1125   b)   Profit…

Q: The total cost function is C(q) = q³ – 59q² + 315q + 200 and the revenue function is R(q) = 1000q –…

A: The total cost of production refers to the monetary value of inputs used by the firm in the…

Q: A store can sell 12 telephone answering machines per day at a price of $200 each.. The manager…

A: Sales at price of $200 = 12 Sales at price of $190 = 14 For every $10 price reduction, number of…

Q: Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is…

A: Given: MC=q+35 (in ¢000)  MR=560+22q−q2 (in ¢000)

Q: Glowglobes are produced by identical firms in a perfectly competitive market. Each firm's Total Cost…

A: TC=404+19q+q2 MC=19+2q Q=316-P or, P= 316-Q P = $86

Q: A firm faces the following average revenue (demand) curve: P = 100 - 0.01Q where Q is weekly…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: The marginal revenue function for a manufacturer's is a of form (a)/(e^(q)+b) where a and b are…

A: he marginal revenue function for a manufacturer's is a of form (a)/(e^(q)+b) where a and b are…

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: total revenue (TR) is defined as the total quantity(q) of commodity produced multiplied with its…

Q: Which of the following statements is correct with respect to profit maximization? PLEASE EXPLAIN…

A: In economics, an individual will enter into a transaction if he is able to generate profit from it.…