Suppose that the total benefit and total cost from a continuous activity are, respectively given by the following equations: B(Q)=17.9+12.5Q-3.6Q2 and C(Q)=9.5+2.9Q. [Note: MB(Q)=12.5-(2) (3.6Q) and MC(Q)=2.9]. What are the marginal benefits at Q=1?
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![Suppose that the total benefit and total cost from a continuous activity are, respectively
given by the following equations:
B(Q)=17.9+12.5Q-3.6Q2 and C(Q)=9.5+2.9Q.
[Note: MB(Q)=12.5-(2) (3.6Q) and MC(Q)=2.9].
What are the marginal benefits at Q=1?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84969f1e-da5a-469a-b31e-a98db3267256%2F07e87807-de56-45cb-8d14-e9e7450f3cf2%2Fdv1bc1g_processed.jpeg&w=3840&q=75)
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- If b=0, what would happen to the total-cost and marginal-cost curves of C=C(Q)=aQ^3+bQ^2+cQ+d?1. If the average cost of a plant to produce a "q" unit is explained by the functions below this: C = 0.0003q2 - 0.001q + 4 + 20.000/q a. What is the marginal cost function of product q?b. What is the marginal cost when producing 10 units?c. What is the marginal cost when producing 50 units? 2. If the average cost of a plant to produce a "q" unit is explained by the functions below this: C = 0.0001q2 - 0.002q + 5 + 10.000/q a. What is the marginal cost function of product q?b. What is the marginal cost when producing 20 units?c. What is the marginal cost when producing 100 units?Suppose you own a small business. Last month, your total revenue was $8,800. In addition, you paid $3,500 in monthly rent for office space, $300 in monthly rent for equipment, $2,500 to your workers in wages for the month, and $1,900 for the supplies you used that month. If you correctly determine that your economic profit last month was $200, then it must be true that your implicit costs are $3,600 per month. your implicit costs are $600 per month. your implicit costs are $400 per month. your implicit costs are $1,800 per month.
- The diagram displays short-run cost curves for a facility that produces liquid crystal display (LCD) screens for cell phones: a) What are the daily total fixed costs of producing LCD screens?b) What are the total variable costs of producing 100 LCD screens per day?c) What are the total costs of producing 100 LCD screens per day?d) What is the marginal cost of producing 100 LCD screens instead of 99? (Hint: To answer this question, you must first determine the total costs-or, alternatively, the total variable costs of producing 99 LCD screens.)You manage two chocolate factories. Using only these two factories, you must produce exactly 420 kgs of chocolate daily at lowest possible cost. Mathematically, you have: Q1 = Quantity produced at Chocolate Factory #1 Q2 = Quantity produced at Chocolate Factory #2 Daily total overall production: Q1 – Q2 = 420 At present, each factory produces half the overall requirement. This means that Q1 = 210, Q2 = 210 a) Following your logic , you realize that as long as the marginal cost is different between the two factories, you can lower overall cost while maintaining production at 420 kgs. So, to reduce the overall cost to the lowest possible, you decide to move more than 1 kilogram from one factory to another. As a result, each factory will produce a different quantity of chocolate while the overall daily production remains at 420 kgs. To minimize overall cost, how many kilograms will you order/instruct Factory #1 to produce? Q1 = ____________kgs And how many kilograms would you…Consider a simple three-step manufacturing process as illustrated in the figure given. Assuming the demand is 1,000 units, what is the input needed to meet the demand? Suppose the cost of loss is $5 in process 1, $10 in process 2, and $US 15 in the process 3. The defect rates are 3%, 5% and 7%, respectively. Calculate the total cost of the loss in the system provided and in the system where the scrap rates are reversed. which system would be preferable?
