Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given by TC(g)=171+g^2 and her Marginal Costs are given by MC(g)=2q. What is her minimum Average Total Cost?

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

A: Cost is minimized when production takes place where marginal rate of technical substitution is equal…

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: Give the formulas for and plot AFC, MC, AVC, and AC if the cost function is      a C = 10+10q (MC =…

A: To Calculate AFC, MC, AVC, AC we use the following formulas. AFC = FC/QMC is the derivative of C…

Q: Suppose for a particular firm the only variable input into the production process is labor, and that…

A: Total cost is the cost of all inputs needed to produce with the given output. ATC is given as $30…

Q: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: Average cost is the ratio of total cost and quantity

Q: Are all fixed costs also sunk costs?

A: Sunk Cost: It refers to the cost that is once incurred can’t be recovered.Fixed Cost: It is the cost…

Q: A firm’s total cost of production is given by TC=100q+100q^2. Are the returns to scale increasing,…

A:

Q: Use Exhibit 2. For Comfy Chair Factory, which of the following statements is (are) correct? (x) The…

A: Total cost is the summation of Fixed cost and variable cost . Where varible cost when there is no…

Q: Suppose a firm wants to produce 50 units of output at minimum cost and it has three factories with…

A: The output must be distributed in a such way that equate the Marginal costs across the plants. Or…

Q: Randall Cars repair Factory has the total Cost Function TC (Q) = 4₁1 Q¹+ 26/Qx+30 where Q stands for…

A:

Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per…

A: Given data: Total cost function TC=$1000+$6X Quantity X=3000 units

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: (b) A firm has an average cost function A(q) = 125 q + q 2 16 − 4. where q is the firm′ s output.…

A: Answer: Given: Average cost function; Aq=125q+q216-4where q is the output Calculation: (4) The…

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: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: There occurs economies of scale when average cost decreases with increase in production,…

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: Suppose a firm has production function F(L, K) = L6K.6. Following the steps in the slides, derive…

A:

Q: ohnson produces bottles. Suppose q is the quantity of bottles produced. Her Total Costs are given by…

A: Average cost = total cost/ q take first order and second order condition for minimum value of…

Q: Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given by…

A: Average cost = total cost / Q  to check minimum value take FOC and SOC.

Q: Ouroboros’ total cost (TC) as a function of its production level q is given by the equation below:…

A: Given  Total cost TC(q)=2q2-12000q+30,000,000              ...... (1) “Since you have posted a…

Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The average fixed cost of…

A:

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: Rick's ski board factory has the Total Cost function: TC(Q)=0.02Q³ +300Q +200 where Q is the number…

A: The total cost function is the sum of the variable and the fixed cost. The variable cost is the cost…

Q: 2. Trapper Joe, the fur trader, has found that his production function in acquiring pelts is given…

A: Given: q = 2H0.5 H= q2/4 Now, it is given that per hour a worker earns $8. Therefore, Total cost…

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

A: Answer -

Q: widget factory roduction. worker is $200 per day. The cost of each machine is $400 per day,…

A:

Q: IS a C(q)=5,211+58q+3q2. At what quantity of output (q) that this firm's average cost is minimized?…

A: The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the…

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

A:

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

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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: Let a two-output cost function be given by: C(y1, y2) = y1+Y2+Y1Y2 – (y142)² + yž. Assume that y1 >…

A:

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

A:

Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per…

A: Answer: Given, Total cost function: TC=$1,000+$6X Calculation: To calculate marginal cost, derivate…

Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: (i) the marginal cost is…

A: Answer: Given, Cq=200+5q (1). Marginal cost (MC): marginal cost refers to the addition to the total…

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: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: Average cost is the per unit cost of production

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

A:

Q: Explain why optimal marks- up vary

A: There are three facts about markup: 1).Markup is greater than or equal to zero—that is, the firm…

Q: What is the fixed cost of production

A: Given, MC(q) = 6 + (9/10) * q By integrating this function, we can get Total Variable Cost (TVC)…

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: 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 joint cost, in dollars, for two products is given by C(x, y) = xVy2 + 11. (Round your answers to…

A: Marginal cost is the cost of additional unit produced . To find the marginal cost we need to take…

Q: . The marginal cost when output = 10 is equal to a. the slope of a line drawn tangent to the total…

A: # Marginal cost is the total cost per unit of output. The formula for marginal cost is:- MC = TC / Q…

Q: using the cost given in the table below, derive the values for the total cost (TC), average fixed…

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

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.