s the optimal output the same using the Total Revenue Total Cost approach and the Marginal Revenue Marginal Cost approach methods? PLEASE EXPLAIN A. No B. Yes
Q: Given cost and price (demand) functions C(q) = 110q + 40,800 and p(q) = - 1.9q + 900, what is the…
A: Marginal Cost refers to the additional cost incurred due to the production of additional unit of…
Q: Fill in the blanks in the following table and then answer the question that follows. (Note: Round…
A: Marginal Product = Change in Total Product / Change in Input Average Product = Total Product / Units…
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Q: 1 3. For the technologies y=min{*,4.x, } and y=+x, compute: 4 a) the total cost and the cost of…
A: Marginal cost (MC) is the addition to the total cost by producing one more unit of output. Average…
Q: 3. For the technologies y=min =+x; compute: and a) the total cost and the cost of production of 1…
A: The total cost function is a relationship between total cost and output level and input prices. It…
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Q: Consider a producer with the following input factors of production costs. Specify the producer's…
A: Var/unit Fixed/yr Labor $5.00 $100,000 Materials $10.00 Capital $40,000 Land $10,000
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A: Given the give up salary = $60000 Rent = $24000 Salary paid to himself = $40000 Rent = 0 Other…
Q: Distinguish between implicit and explicit costs and give examples of each. In addition, explain how…
A: Explicit Costs are those costs that are directly observed like the cost involved in hiring labor or…
Q: a. Why will firms in most markets be located at or close to the bottom of the longrun average cost…
A: A. Why will firms in most markets be located at or close to the bottom of the long-run average cost…
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A: Here we calculate the profit and conclude the decision is this production profitable or not , and…
Q: Question 3 (b) A garment factory’s production function is provided in the table.The gross profit…
A: MP= TPn - TPn-1 MPL = MP × value of output Workers Output(TP) Marginal Product(MP) (a) MPL…
Q: Figure 1 shows price, marginal cost and gavecege.cost.cUDces for a fioD- Figure 1 Costs MC AC (RM)…
A: Since you have posted muti-subparts questions, as per answering guidelines we will solve the first 3…
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Q: QUESTION 20 Solve the problem. 750,000 + 0.55x The average cost per unit, y, of producing x units of…
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Q: Required a. How much is the fixed cost to produce the natural-organic oil? b. How many barrels of…
A: The fixed cost does not change with change in the level of output. The variable cost changes with…
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A: Total utility is the general fulfillment that a buyer gets from the utilization of specific labor…
Q: a. Find the first, second and third derivatives of the following total cost function: TC(Q)=Q3…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 6. If the Marginal Cost for a product is found to be MC = 8x + 60, and the Marginal Revenue is given…
A: We are going to use Profit maximization method to answer this question. Use differentiation and…
Q: 3. For the technologies y=min{x.4x, } and y=+x, compute: a) the total cost and the cost of…
A: (i) Total cost is the sum total of fixed cost and variable cost, corresponding to a given output…
Q: 5. A firm has two plants (A) and (B) for production. The Total cost function for each is given by:…
A:
Q: Output TFC TVC TC MC ATC A 25 25 ---- -- 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E 4 25 110…
A: The marginal cost is the cost of producing an additional one unit of output. Marginal cost (MC) is…
Q: a. What is Mr. Leung’s fixed cost? b. For each level of output, calculate the variable cost (VC).…
A: Fixed cost = cost when output is zero TVC = TC – FC ATC = TC / Qty AFC = FC / Qty AVC = AVC / Qty MC…
Q: The MARKET PRICE for berries is currently at $75 per metric ton. Green Berry farms is currently…
A: Green Gardens Berry farms (quantity in metric tons) Quantity of farmworker TVC TFC TC MC 1 3 45 20…
Q: Following is the information available for Bubble Gums produced by Bano and Co. Output (Q) Labor…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3.Please resubmit the question…
Q: Which of the following is correct with respect to economic profit? PLEASE EXPLAIN THANKS! A.…
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Q: 8. All-Leather is a tanning company located on Lake Michigan in Chicago. Its total cost function is…
A: A cost function is being used in order to chart how the production expenses would change at…
Q: 10. All-Leather is a leather tanning company in Chicago. Its total cost function is C(QA) = 130 +…
A: C(QA)=130+6QA+2QA2
Q: 8. siuppose that the manager of a firm operating in a competitive market has estimated the firm's…
A: (a) Average Variable cost (AVC) is multiplied by the quantity (Q) to get variable cost (VC). Total…
Q: Refer to the figure below. What can we conclude from this figure? Graph of Per Unit Costs What is…
A: The creation of additional output due to the result of additional input being placed into the…
Q: What is the rule in using the marginal analysis in making the optimal decision? a. the optimal…
A: The additional benefits obtained from an activity are compared against the increased cost incurred…
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Q: Question 1 Output (Q) Total Fixed Cost (TFC) Total Variable cost (TVC) 0 100…
A: Marginal cost is the the cost incurred when an additional unit of input is hired. Mathematically, it…
Q: Rev conts Com Peverun 100 400 Figure 2 14) Based on the information in Figure 2, the total fixed…
A: Total Fixed Cost is the amount of money which is spent by the business without any business…
Q: a. Define explicit costs and implicit costs. b. Assume the following: * A firm buys a unit of…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: Part I Given that the marginal cost (mc) to manufacture an Iphone per day is represented by the…
A: Answer - "Thank you for submitting the questions .But, we are authorized to solve one question at a…
Q: 3. For the technologies y=min- ,4x, } and y=- +x, compute: 4 a) the total cost and the cost of…
A: TC = total cost MC= marginal cost AC= average cost. The prices of inputs are (4,6)
Q: Assuming a firm has this short-run production data below, do the following: a. fill-in the rest of…
A: MPL=∆TP∆LAPL =TPLTFC = Php2000 x KTVC = Php 700 x LTC = TFC + TVCMC = ∆TC∆QAFC = TFCQAVC = TVCQATC…
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Q: 8. A commodity has price demand function p(x)= 11800 - .01x and each unit costs 1000 and the…
A: Demand Function P(x) = 11800 - 0.1x2 Each unit cost = 1000 overhead/Fixed Cost = 5000
Q: Cost RevenueRevenue Quantity Variable Price costs PER UNIT 0 $0.00 $5,3 1 $5.50 $5,3 2 $6.00 $5,3 3…
A: The marginal cost refers to the additional cost that the producer incurs when he/she chooses to…
Q: 7. If the Marginal Cost for a product is found to be MC = 10eº.5x, and the Marginal Revenue is given…
A: We are going to find the cost function and profit function to answer this question,
Q: Quantity Total Revenues Explicit Costs Implicit Costs 4. 50 40 10 75 67 15 6. 100 100 20 7. 125 132…
A: Accounting profit = Total Revenue - Explicit costs
Q: A snowboard company currently hires 10 skilled employees who are paid a weekly wage of$1,000. The…
A: No. of workers hired = 10 Weekly wage per worker = $1000 Weekly wages for 10 workers = $ 10000 Fixed…
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A: As we answer only 3 subparts and the question has more than 3 subparts, so we would be answering the…
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A: Costs are the expenses that firms incur in the production of goods and services.
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- A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.Explain cost and revenue synergy by taking an example of a recent M&A that happened across the globe.This is a repeated question since you guys only answerone question at a time! Let's assume that a firm's total weekly costs are as follows: 1. Salaries = $2,600. 2. Supplies = $400. 3. Rent = $800.In addition, the owners have invested their own money into the business. This could have earned them interest of $150 per week if they had chosen to put it into a bank instead of investing it into their business. If the firm has weekly revenue of $4,000, what are the firm's accounting profit and economic profit? Show your work please.
- Compare marginal revenue, marginal cost, and marginal revenue product.Consider the following production and cost functionsq=〖(10K^(2/5)+5L^(2/5))〗^(5/2)1250=20K+8LWhich implies〖MP〗_K=10〖(10K^(2/5)+5L^(2/5))〗^(3/2) K^(-3/5)〖MP〗_L=5〖(10K^(2/5)+5L^(2/5))〗^(3/2) L^(-3/5)What is the profit maximizing combination of K and L?Compare the average total cost and the marginal cost and explain the relationship Describe the methods that can be used to dertermine where profit is maximized L Q MP MC TC ATC 0 0 200 1 20 20 5.00 300 15 2 50 30 3.33 400 8 3 90 40 2.50 500 5.56 4 120 30 3.33 600 5.00 5 140 20 5.00 700 5.00 6 150 10 10.00 800 5.33 7 155 5 20.00 900 5.81
- Q 4 5 6 Revenue and cost figures can be observed in the table below for Greensons Organic. Use the information in the first three columns to complete the table Output /Sales(Q) Total Revenue (TR) Total Costs (TC) Profit /Loss Marginal Revenue (MR) Marginal Costs (MC) Addition to profit 0 0 8 -8 1 7 14 -7 7 6 2 14 19 -5 7 5 3 21 23 -2 7 4 4 28 26 2 7 3 5 35 28 7 7 2 6 42 31 11 7 3 7 49 38 11 7 7 8 56 48 8 7 10 2. Is Greensons Organic operating in the short run or in the long run? Justify your answer 3. Calculate average variable costs when the level of output is equal to 5 units. 4. What level of output does Greensons Organic maximize profit? Justify/explain your answer and show calculations 5. When will the diminishing marginal returns start to prevail for Greensons Organic and why? 6.…Only typed answer When the local electricity company charges a price of $20 per kilowatt they sell 1,000 units. If they raise the price by $1 they sell 800 units. What is the marginal revenue between $20 and $21? a) $21 b) $3,200 c) $200 d) $1Revenue and Cost The total revenue function for LED TVs is given by R = 1050x dollars, and the total cost function for the TVs isC = 10,000 + 30x + x2dollars, where x is thenumber of TVs that are produced and sold.a. Which function is quadratic, and which is linear? b. Form the profit function for the TVs from thesetwo functions.c. Is the profit function a linear function, a quadraticfunction, or neither of these?
- J 7 let: MC = 12Q⁵+5Q⁶-4Q⁵-5 MR = 16Q¹⁵+15Q²-12Q⁶-10Q MP = 12X⁵+25X⁷-24X⁴-7X Determine the functions of total cost, total revenue, total productionThe total profit equation for the firm is p =-500-25x-10x^2 -4xy-5y^2+15y ;x +y =100 .where x and y represents output levels.Us8ng substitution method determine the profit maximizing output levels for x and y .Suppose that the marginal revenue for a product is MR = 1200 and the marginal cost is MC = 30 time square root of x+4 , with a fixed cost of $900. (a) Find the profit or loss from the production and sale of 5 units. There is a ---Select--- profit loss of $ . (b) How many units will result in a maximum profit? units
