Suppose a firm's cost function is C(q) = 4q² + 16, where C(q) is the total cost, and q is the level of output. %3D (a) Find variable cost, fixed cost, average cost, average variable cost, and average fixed cost. (b) Show the average cost, marginal cost, and average variable cost curves on a graph.

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: What is AC(y) for cost function c(y) = y3? Input prices are taken as constants.

A: Average cost measures the per unit cost of production.

Q: With a total cost function of: TC = 50 + 2Q +2Q², where Q is the output quantity, solve for the…

A: Total cost TC = 50 + 2Q + 2Q2 Fixed cost Fixed cost is that part of TC which does not depends on…

Q: Find the average cost function if cost and revenue are given by C(x) = 127 + 8.6x and R(x) =…

A: Given cost function:- C(x) = 127 + 8.6x x = units of output produced

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…

A: The TC (total cost) demonstrates the sum of FC  (fixed cost) and the VC (variable cost). And the MC…

Q: The total cost of producing one unit is $100 The total cost of producing two units is $150 At a…

A: It is given that, the total cost of production of 1st unit = $100. The total cost of production when…

Q: What shapes would you generally expect each of the following cost curves to have: fixed costs,…

A: Cost curves shows how the cost of production changes when output/quantity changes.

Q: a) If a business has a long-run cost (TC) function given by TC = aq^3 – bq^2 + ca where q = the rate…

A:

Q: Cost is in dollars and x is the number of units. Find the marginal cost function. MC for the given…

A: Given data: Cx=700+5x+0.04x2

Q: If a cost function is C(q) = 2q3 - 6q2 + 20q • what is the fixed cost? What is the variable cost? •…

A: Economies of scale refers that when the cost per additional unit is decreasing due to increasing in…

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…

A: Answer to the question is as follows:

Q: Cost functions are derived from

A: # Cost function is a representation which helps in predicting the cost of good or service with…

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: For a short-run cost function which of the following statements is (are) not true?

A: The marginal cost function intersects the average variable cost function where the average variable…

Q: A company is planning to manufacture mountain bikes. The fixed monthly cost will be S100,000 and it…

A: Given that fixed monthly cost for manufacturing mountain bikes is $100,000. Cost of each bicycle is…

Q: Find the cost function for the marginal cost and fixed cost. Marginal Cost Fixed Cost (x = 0) dC…

A: Marginal cost: Marginal cost can be defined as the cost that is incurred on the production of an…

Q: If the production function of a firm is P = 60kl, where the price per unit of input k is $10 and I…

A: Production function of a firm : P = 60kl Price of per unit of k : r=$10 Price of per unit of l :…

Q: Since marginal cost is the reciprocal of marginal product times the input price, it decreases as…

A: The marginal cost refers to the additional cost incurred on production of an additional unit of…

Q: If c=3q-3q2+q3is a cost function, when is marginal cost decreasing?

A:

Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…

A: The isoquant line shows the different combinations of factors of production required to produce a…

Q: What is MC(y) for cost function c(y) = y3? Input prices are taken as constants.

A: Marginal cost measures the change in total cost with an additional unit of production.

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: For the cost function below, where C is the cost of producing x units of a product, find the…

A: Power Rule: d/dx (xa) = axa-1 where a is constant. And MC = C'(x)

Q: Given the following Cost Function: C(q) = 100 + 50q – 10q + q^3. Find the equations for Total…

A: Total variable cost (TVC) is that cost which changes as the level of output changes. Eg: Piece…

Q: Graphically, the marginal cost curve and the average total cost curve intersect where

A: The marginal cost (MC) curve and the average total cost (ATC) curve interest at the minimum point of…

Q: Consider the following cost function: C(q) = 100+10q+q² (i) What are the formulas for the Total…

A: Given the information: C(q) = 100 + 10q + q2

Q: Assume the following total cost function: Q Total Cost $75 1 105 2 128 What is the average fixed…

A: Average Fixed Cost (AFC): It is per unit fixed cost. It continuously decreases because the same…

Q: Find the cost function for the marginal cost function. c'(x) = 0.06 e 001x. fixed cost is S7 C(x) =|

A: We are going to find total cost function by integrating marginal cost function to answer this…

Q: If a production function exhibits decreasing returns to scale, then the average variable costs are…

A: ANSWER STEP-1 If A Production Function Exhibits Decreasing Returns To Scale, Then The Average…

Q: Which of the following statement is correct? a. Marginal cost will equal average total cost when…

A: Let's first understand what's the meaning of marginal cost. The cost which is incurred on the…

Q: Which of the following is not a fixed cost?

A: Fixed cost refers to a cost that does not change with an increase or decrease in the number of goods…

Q: Which of the following is always true?A) When marginal costs are less than average total costs,…

A: Below are the cost curves: (Sorry it’s a free hand diagram so it is not very neat)

Q: If the total cost function for a product is C(x) = (x+5)° dollars, where x represents the number of…

A: Given, Total cost, C(x)=x+53 The average cost, AC(x) = C(x)/x AC(x) = x+53x To find the units which…

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

A: ("Since you have asked multiple questions, we will answer the first question for you. If you want…

Q: How do you solve this and can you show me step by step?

A: The cost function of two plants can be expressed as follows.

Q: Consider the following cost function. a. Find the average cost and marginal cost functions. C(x) =…

A: The provided cost function is: Cx=1700+0.4x

Q: Consider a linear, increasing function for total costs. If there are fixed costs, which one of the…

A: Answer: A (Marginal cost is always falling) Explanation: The marginal cost will be constant in the…

Q: Consider a company that has fixed costs of $6,700 and a marginal cost of $26 per item.   What is…

A:

Q: Consider the following total cost function: where represents output and are constants. What can we…

A: Answer: (b) The firm experiences falling average fixed costs, but rising average variable costs.

Q: accountant for a car rental company was recently asked to report the firm's costs of producing…

A: A company's complete expense is the amount of the expenses of the multitude of information sources…

Q: Cost function C = 80q - 3q2 + q3 If MC function is 80-6q+3q2, At what output level the average cost…

A: Answer to the question is as follows:

Q: Given a cost function C(x), which returns the total cost of producing x products, the average cost…

A: Total cost function  C(x) = 80x+150

Q: The fixed overhead expense of a manufacturer of children’s toys is$400 per week, and other costs…

A: Dear student, you have asked multiple sub-part questions in a single post and have not mentioned…

Q: If a business has a long-run cost (TC) function given by TC = aq' – bq² + cq where q = the rate of…

A: Given  Total cost function TC=aq3-bq2+cq              ... (1) q= rate of output  a, b and c are…

Q: A firm with some fixed costs and a constant marginal cost at all levels of production will have…

A: The total cost can be divided into two parts: total fixed cost and total variable cost. Total fixed…

Q: Find the value of Marginal cost if the marginal cost function is given is :- 3Q2 - 42 And the…

A: The information being given to us:- Marginal cost function is as:- 3Q² - 42  Quantity is 5 units  We…