The cost function for the manufacture of x number of goods by a company is C(x) = x3-9x2+24x. Find the level of output at which marginal cost is minimum. Further, if the selling price of a unit is 2x3+9x2, find the average profit.

Q: Suppose that the cost function for a commodity is (x) = 90 + x? dollars. (a) Find the marginal cost…

A: Answer to the question is as follows :

Q: company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: (a) Total cost is the sum of fixed cost and variable cost.  Fixed cost for manufacturing the sink is…

Q: A fast-food company in Hermanus has the following cost function: TC = 10 + 3K + 2L, where Lis the…

A: Given  total cost: TC=10+3K+2L            ......... (1) and production function Q=2KL       ........…

Q: Suppose a firm produced 2 goods x and y and must produce x + y = 42 and have a cost function of c =…

A: Total cost is the summation of total fixed cost and total variable cost. Total fixed cost is the…

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A: The functional connection between cost and output is referred to as the cost function. It…

Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost (MC) at Q= 6.

A: The total cost function is,  TC = 25 + 6Q - 5Q2 + 6Q3 Marginal Cost (MC) is defined as the change in…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||.

A: The cost function is: C(x) = 174+1.7x

Q: Marginal cost is given by the function :- 2Q2 - 130 And the equilibrium quantity is 10 so…

A: # Marginal cost measures the degree of change taking place in total cost of the firm.

Q: For the cost function C(Q) = 100 + 4Q + 19Q2 + 2Q3, what is the marginal cost of producing the…

A: Answer to the question is as follows:

Q: A firm's unit capital and labor costs are $1 and $2 respectively. If the production function is…

A: The maximum output of the production function can be determined by finding the marginal product of…

Q: a firm has the production function Q=min{2L,K}, find the cost function in the long run if wage is $2…

A: The provided production function is: Q=min{2L,K}

Q: The cost to produce x units is given by C ( x ) = 0.03x2 + 8.8x + 1600 + 6.8 square root of x.  Find…

A: Marginal-Cost(MC) is the cost(c) of producing one additional unit. Given the cost-function(c(x)),…

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

A: Given, Marginal cost (MC) = 4x+150 Fixed cost (FC) = $600 Here MC = dCdX

Q: The marginal cost function of a company is given by MC 5+x, and the cost of producing 2 umits is 712…

A: Fixed costs are costs that do not change when sales or production volumes increase or decrease.Fixed…

Q: If the production function is given by f(x1, x2) = min{x1, x2} + min{x3, x4}, what is the minimum…

A: A production function in economics describes the technological relationship between the quantities…

Q: The profit, P(x), generated after producing and selling x units of a product is given by the…

A: Given, The quantity of roast beef sandwich = x The total cost per week represent by = C(x) The fixed…

Q: What is the marginal cost, if the cost function given is C(Y)=6 a) Y? b) 3Y c) 6Y d) 12Y

A: Marginal cost refers to an additional cost that occurs from producing one more unit of output.

Q: An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15 Q^2…

A: Total Cost is the cost that includes the fixed cost and variable cost of production. Cost function;…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||:

A: The total cost function is: Cx=174+1.7x

Q: A factory that you are managing has an hourly production process that can be represented by the…

A: Answer -

Q: 1. If the average cost of a plant to produce a "q" unit is explained by the functions below this: C…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…

Q: An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15Q^2+…

A: The cost function of a single-product firm is: C(Q)=100+20Q+15Q2+10Q3

Q: Suppose that the cost, in dollars, for a company to produce x pairs of a new line of jeans is…

A: Given  Cost Function C(x)=7000+6x+0.01x^2+0.0002x^3

Q: A firm has the following production function where q represents the output level per week, L…

A:

Q: Suppose that cost function is C(Q) = mQ 2 + nQ + p. Find the point that average cost function A(Q)…

A: Average cost=total cost/quantity

Q: define total fixed costs

A: Cost refers to the expenditure incurred in producing a good by a producer. Cost is classified as:…

Q: Suppose that the cost function of q is given by: C(q)=16+4q+q^2 (a) Find the fixed and variable…

A: The cost function is given as:C(q) = q2 + 4q + 16

Q: Consider a firm that has the following production function: Y = min{x₁, ½x2}. The inputs' prices are…

A: Both inputs are used in the fixed proportion. This is a case of complementary inputs.

Q: A street musician bought a new fiddle for $850.00. Assume she breaks 1 string each hour and can buy…

A: Cost is a sum of fixed cost and variable cost. Fixed cost does not depend on hours worked on playing…

Q: When a firm produces one unit, the variable cost is $3. When the firm produces two units, the…

A: The variable cost of the first unit = $3 The variable cost of the two units = $6

Q: The cost function for producing x items is C(x)=x2-3x+625. a.Find the average cost function. b.What…

A: According to guidelines, first 3 subparts needs to be answered. Average cost is total cost divided…

Q: Suppose the production process for running shoes is given by q = 10KL where q is the number of pairs…

A: A production function in economics describes the technological relationship between the quantities…

Q: suppose the cost function is given as C = 135 + 75Q – 15Q2 + Q3. Prepare a cost schedule (table)…

A:

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

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

Q: The marginal cost of producing the xth box of DVDS is 15 + and the fixed cost is $100,000. Find the…

A:

Q: orderd pair ?

A: The given values are as follows.

Q: A factory that you are managing has an hourly production process that can be represented by the…

A: Cobb Douglas production function; Q=K0.25L0.25 Price of one unit of capital per hour; r= $10 Price…

Q: Suppose a firm with a production function given by Q = K0.4L0.6 produces 100 units of output. The…

A: The production function is as follows:- Q = K0.4L0.6 Production to be done is 100 units. Thus,…

Q: Jack's car repair factory has the Total Cost function TC(Q)=3.30³-540-8 where Q stands for the…

A: Cost Function  The functional relationship between cost and output is referred to as the cost…

Q: For a unit demand function p=24-8x where x is the number of units and p is the price in tk,finds tge…

A: Sales function is demand function itself. Profit function is π = TR - TC

Q: In the previous Problem Set question, we started looking at the cost function C (æ), the cost of a…

A: The total cost incurred by a firm includes fixed costs and variable costs. Fixed costs are the costs…

Q: A firm has access to two production processes with the following marginal cost curves: MC1 = 0.6Q1…

A: GIVEN   A firm has access to two production processes with the following marginal cost curves: MC1 =…

Q: The price-demand equation and the cost function for the production of table saws are given,…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub-parts per…

Q: The cost, in dollars, of producing æ units of a certain item is given by C (z) = 5x – 4/7 – 1. Find…

A: Average cost (AC) is defined as the per unit cost of producing a commodity.  AC = TC/x

Q: An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15 Q^2…

A: Given Data:Cost function, C(Q)=100+20Q+15Q2+10Q3

Q: Suppose the revenue function for the sale of a product is r(x)= -3x^2+30x and the cost function is…

A: * SOLUTION :-  Given that,  The revenue function  R(x) = -3x^2+30x The cost function C(x)= 6x

Q: The unit price of a product is given by P(X) = 200 -  0,01X and the total cost function C(x) = 50X +…

A: Given : P(X) = 200 - 0.01X  C(x) = 50X + 20.000