The total cost of a firm is TC(Q)=3Q2+4Q+34. Accordingly, its marginal cost is 2*3*Q+4 when its output is Q. Suppose its current output level is 9. Will the ATC increase or decrease if the output increases by a little?

Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…

A: Given data: Marginal cost function, dcdq=1q+8 Fixed cost, FC=$4000

Q: You own a firm with a total cost function of: TC = 40 + 150, where Q is the number of output. As you…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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

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Q: A firm's short-run cost function is given by: C (q) = 50 + 10q – 6q² + q³ |3D What is the lowest the…

A: Cost function: The production function model is used by management to run numerous production…

Q: When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Suppose a firm has chosen its quantity so that its marginal cost isequal to the market price, and is…

A: Known fact:Economies of scale: The economies of scale is a situation in which output can be doubled…

Q: Suppose the short-run production function is q = 11L². Suppose that the wage rate is $112 per unit…

A: The firm produces goods and services which would result in the minimisation of the cost.with the…

Q: Luis has a factory that produces construction tools in CDMX. Knowing that your marginal cost…

A: The firm produces output in the form of the various goods and services which has various costs…

Q: The marginal cost function of a firm is defined by MC=25+30Q-9Q², if it's fixed cost is 55. Find the…

A: Given: The marginal cost is:  MC = 25 + 30Q - 9Q2 The fixed cost is = 55 To Find: The total cost:

Q: If a firm is experiencing economies of scale, doubling inputs will: double output. more than double…

A: Economies of Scale: The economies of the scale refer to the gain that arises due to the increase in…

Q: A firm's short-run cost function is given by: C (q) = 50 + 10g – 6q² +q? What is the lowest the…

A: Given: Cost function: =50+10q-6q2+q3 To find: lowest price

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: Suppose each firm of the industry has a short-run total cost curve of TC = 5+4q+q², where q is…

A: Total cost of production refers to the total monetary value incurred on fixed as well as variable…

Q: Normal profits are Multiple Choice   the profits reported by accountants on a firm's annual…

A: ANS Profit is given by subtracting Total Cost (TC) from Total Revenue (TR). Mathematically it is…

Q: A firm has two plants with marginal costs: MC1(y )=3y+2 and MC2(y )=8y. Assuming that the firm is a…

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Q: competitive firm has a single factory with the cost function C(q) = 5q² + 79 and produces 32 units…

A: The marginal cost of creation is the adjustment of complete creation cost that comes from making or…

Q: Assuming that your firms total cost function is, TC (Q) = $21,128+4Q profits when the prices are $7,…

A: In the question, the total cost is TC = 21128 + 4Q and prices are $7, $9, and $11. Now we are…

Q: Suppose that the total cost function of a firm is TC = 1000 + 10Q2 a) Find the output level that…

A: Given the total cost function: TC = 1000 + 10Q2

Q: A firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were…

A: Costs are the expenses that firms have to incur in all of their production activities.

Q: The total cost of a firm is TC(Q)=4Q2+6Q+34. Accordingly, its marginal cost is 2*4*Q+6 when its…

A: Answer to the question is as follows :

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: Let p = 23 - Vx and C(x) = 268 + 4x, where x is the number of garden hoses that can be sold at a…

A: Production is the process of using the factors of production to make useful output. Cost refers to…

Q: If a firm's short – run total cost function is TC = 20 + 2q² then its short run average cost at…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.

Q: A company has the following cost functions in the short run, where the production level, Q ,  is…

A: During the period of short-run, there are two sorts of cost experienced by the business firm:  fixed…

Q: 25) If a firm has the cost function C(q) = 5q² + 20q + 180 and the marginal cost function MC(q) =…

A: average cost or unit cost is equal to total cost divided by the number of units of a good produced…

Q: A company's marginal cost function is MC(x) (given below), where x is the number of units. Find the…

A: In Economics, marginal cost is the change in the total cost that arises when the quantity produced…

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

A: According to the question given, the daily cost schedule of the laundry sink manufacturer has…

Q: The gap that exists in a graph between total costs and fixed costs represents the variable costs of…

A: Total cost is the sum of variable and fixed costs. TC = TVC + TFC

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: A firm with positive fixed costs encounters CRS and then DRS as it expands production. Show the…

A: Constant return to scale where MP is a horizontal line and In Diminishing returns to scale MP is…

Q: Suppose a firm faces the following cost function: C(q) = 36 + 16q – 8g² + 2q%

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Q: Given the information that follows: Sales = 750,000; explicit costs = 450,000; return you could have…

A: Accounting cost is equal to explicit cost. Explicit cost is the direct cost involved in the…

Q: Q45 When a factory is operating at the level of output where its short-run average total cost is at…

A: Short-run average expense (SRATC/SRAC) approaches average fixed expenses in addition to average…

Q: Assume that an entrepreneur’s short-run total cost function is C = q^3 − 10q^2 + 17q + 66. Calculate…

A:

Q: You are the owner of a small company that makes laptops at the price of $550. Your variable cost of…

A: The number of laptops can be found by equating price and the cost of producing laptops. We will find…

Q: A local bakery has the following production function of cakes, Q = K³l*L+/2, The firm currently has…

A: In the short-run(SR), some factors are fixed while some are variable. That’s why the SR cost…

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 marginal cost function of a company is given by MC = 5 + x, and the cost of %3D producing 2…

A: Marginal cost function; MC= 5+x Cost of producing 2 unit = 712 OMR Cost function of the company:-…

Q: A firm's production is given by f(L, K) =;min(3L, 2K), and it faces input prices w = $30/hr and r =…

A: Given  Production function: f(L,K)=16min(3L,2K)           ... (1) w= $30/hr r=$10/hr We have to…

Q: c) If the total cost of a product is TC = 45 + 5Q − 2Q 2 + 2Q 3 , Find i) Marginal cost function at…

A: Total cost is the cost that includes fixed cost as well as the variable cost of the production…

Q: ABC company's total cost when it produces 20 units is $100.  ABC's total cost is $120 when it…

A: Total cost is the expenditure incurred in the production of goods and services. It is the cost that…

Q: A firm's efficiency decision O always means hiring labor that will work for the lowest possible…

A: Efficiency refers to the equilibrium condition where social demand equals social cost.

Q: Electricity is sold for $0.12 per kilowatt-hour (kWh) for the first 10,000 units each month and…

A: Given Information: For the first 10,000 units - $0.12 per kWh For remaining units - $0.09 per kWh A…

Q: A firm’s total fixed cost is $360,000. Construct a table of its total and average fixed costs for…

A: Fixed Cost remains same at all levels of Output. Average Fixed Cost = Total Fixed Cost / Quantity

Q: The minimum efficient scale of a firm: Multiple Choice is realized somewhere in the range of…

A: Minimum Efficient scale is a point between economies of scale and diseconomies of scale.