The Mini-Case “Economics of Scale at Google” describes economies of scale for Google Cloud Storage. The cost function for this service is well approximated by C=F +cq, where C is total cost, F is fixed cost, c is a constant, and q is output. What is marginal cost for this cost function? What is average cost? Over what range of output does Google have economies of scale?

Q: The cost, in thousands of dollars, of airing x television commercials during a sports event is given…

A: Marginal cost, C'(x) = change in total cost / change in quantity = δ(C)δx

Q: For the cost function C(Q) = 200+3Q2+4Q3, what is the average fixed cost of producing 10 units of…

A: We have total cost function: C(Q)=200+3Q2+4Q3          ... (1) We have to calculate average fixed…

Q: If a person starts their own business, one implicit cost is the loss of a steady salary from leaving…

A: This statement is True Implicit cost is the opportunity cost of the foregone alternative which is…

Q: The statements and equations show various ways of defining average variable cost, marginal cost, and…

A: Average Variable cost refers to the variable cost per unit. It can be calculated as follows: In…

Q: Suppose the cost function is C(Q) = 50 + Q − 10Q2 + 2Q3. At 10 units of output, the average cost…

A: In economics, the cost curve is a graph of production costs as a function of the total value…

Q: Use the following table to answer the questions:   Output Total Cost 0 24 1 33 2 41 3 48…

A: Fixed costs are those cost that are remain the same throughout all the level of production. Variable…

Q: The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC s the…

A: Since you have asked for the solution of B and C only. So, I am answering only B and C.

Q: An economist estimates the cost function for Redwood Hill Farm, LLC as shown below. Redwood Hill…

A: For a specific production of a commodity, cost refers to the expense made by a producer on factor…

Q: Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started…

A: Differentiation is the process of finding derivatives. It basically gives the rate of change in one…

Q: Use the cost table below to find the following marginal costs.   Output quantity Total variable cost…

A: Marginal cost is the additional cost incurred from producing an additional unit of output.

Q: The daily cost function for producing x printers for home computers was determined to be C(x) = x²…

A: Given  TC = C (x) = x2 + 8x + 6000

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

A: Cost function is given by C(x) = 0.04x3-20x+350

Q: Which of the following relationship is correct? When marginal cost (MC) starts to increase; average…

A: MC is the slope of TC(total cost). ATC is the per unit cost of product obtained by the ratio of TC…

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: Which of the following is true of the relationship between Average Cost and Marginal Cost Select…

A: Average Cost refers to the per-unit cost of production, it means both fixed and variable costs are…

Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis. There…

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

Q: Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then…

A: Total Costs  = Variable costs + Fixed costs AC = AFC + AVC

Q: Graphically show the relationship between the Avg. Variable Cost, Avg. Total Cost, and Marginal Cost…

A: Below is the formula: AVC = TVCQATC = TCQMC = TCn - TCn-1

Q: Which of the following must be falling when the short run marginal cost is less than it, and rising…

A: Total Cost is the sum of the Total Variable Cost and Total Fixed cost of any firm. Total Fixed is…

Q: The cost curve for producing widgets passes through the following points and is piecewise linear in…

A: Given Information: Units produced Costs 0 $600 200 $1200 400 $1600 600 $1800 The fixed…

Q: For the following cost function TC = a + bQ – cQ2 + dQ3, determine the equations for TFC, TVC, AFC,…

A: Cost of production is the monetary value occured in the process of production which includes fixed…

Q: A lot of companies use the marginal cost function for their business models to determine the…

A: 1. We know, Average cost = AC(x) = C(x)/x  Marginal cost MC(x) = C’(x) At the critical points of…

Q: The Mini-Case "Economies of Scale at Google" describes economies of scale for Google Cloud Storage.…

A: The objective of the following assessment is to evaluate the marginal cost and average cost for the…

Q: You are given the following long-run cost function: TC = 200Q - 25Q2 + 1.5Q3 What level of Q will…

A: Here the firm's total cost=TC = 200Q - 25Q2 + 1.5Q3 here the total fixed cost-TFC=0 (since this is a…

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: Which of the following statements is a reflection of the fact that the average fixed cost falls as…

A: Total cost (TC) is the sum of fixed cost (FC) and variable cost (VC). i.e., TC = FC + VC…

Q: Suppose Alaska could add 1000 MWh of wind generation—which produces for four hours during the…

A: Solve with the help of graph marginal cost curve

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: 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: If accounting profit is $400000 greater than economic profit, what do implicit costs equal?

A: Implicit cost: A certain expense is any cost that has just happened yet not appeared or detailed as…

Q: In the table, the average variable cost at 2 units of output is

A: Answer to the question is as follows :

Q: The cost function of a firm is given as C1 = 400 + 200 + 4Q" using this cost function what is the…

A: here we calculate the efficient scale of the firm by using the cost function so the calculation of…

Q: The following Table Q1(b) shows the total product schedule for a widget. Each unit of labor costs is…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

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: Label each of the following as sunk cost, opportunity cost, or incremental costs and briefly explain…

A: The whole cost of producing a product may be included in a company's financial records as the cost…

Q: Which of the following statements is correct? Multiple Choice ___ Marginal cost is the change in…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: Answer the following: If TVC = $80 and AVC = 4, then what does quantity (Q) equal? (b) If…

A: Total cost = TFC + TVC AVC = TVC/Q AC =TC/Q MCn=TCn -TCn-1= change in TC/change in Q AFC = TFC/Q

Q: In Figure 2-a, the average variable cost curve is curve Group of answer choices A D C B

A: Total cost is a sum of fixed cost and variable cost.

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: 3. XYZ corporation produces widgets. Its short-run marginal cost curve is given by MC (q) = 10 – 5q…

A: Given information MC=10-5q+q^2 Marginal cost is the additional cost incurred by producing additional…

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: 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: 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: Consider the following cost function: C= 0.3q3 - 6q? + 90q + 100. When output is 18 units, average…

A: Given: The cost function is: C = 0.3q3 - 0.6q2 + 90q + 100 To Find: The average cost when output is…

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: Distinguish between economies of scale and constant returns to scale. What shape will the long-run…

A: Economies of scale – A downward sloping LARC (Long run average cost curve)The constant return to…