You are the manager of a firm that produces its output in a competitive market at Q = 500 – 25P. Your firm's cost function is C = 5Q + Q2/50. The profit-maximizing output for your firm is:
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Q: what is dC and dQ here??? and why dC/dQ = 2Q?? please assist
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A: C = q3 - 2q2 + 2q + 10 Number of firms = 300
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A: c (q)= 40+8q+(q^2/10) P= A - (Q/50) 78 firms in the market, firm’s maximum profit is $22.5
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A: Given Total cost function in short run: C(q)=q3-2q2+2q+10 .........(1)
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- q 56 You are the manager of a firm that sells its product in a competitive market at a price of 200. Your firm's cost function is C = 40 + 5Q2. The profit-maximizing output for your firm is a. 20 b. 40 c 15 d 10Suppose the cost function for a firm is given by C(Q) = 100 + Q2. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $10, what level of output should the firm produce to maximize profits or minimize losses? What will be the level of profits or losses if the firm makes the optimal decision?You are the manager of a firm that sells its product in a competitive market with market (inverse) demand given by P = 50 − 0.5Q. The market equilibrium price is $50. Your firm's cost function is C = 40 + 5Q2. Your firm's marginal revenue is Multiple Choice MR(Q) = 50 − Q. indeterminable based on the information in the question. MR(Q) = 10Q. $50.
- The cost function for a firm is given by CQ) = 5 + Q If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $20, what price should the manager of this firm put on the product? What level of output should be produced to maximize profits? How much profit will be earned? As per your solution provided The profit is maximized: MC=MR=P C(Q) = 5+Q2 MC= dC/dQ = 2Q ...what is dC and dQ here??? and why dC/dQ = 2Q?? please assistThe cost function for a firm is given by C(Q) = 5+q^2. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $20, what price should the manager of this firm put on the product? What level of output should be produced to maximize profits? How much profit will be earned?Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by: C= 200 + 2Q2, where Q is the level of output and C is the total cost. a) If the price of watches is $100, how many watches should you produce to maximize profits?b) What will be your profit level?c) At what minimum price will the firm produce a positive output?
- When the competitive firm maximizes profit, its marginal cost of an additional unit of output is always equal to the: Minimum of average total cost. Minimum total cost. Price. Maximum total revenue.Suppose that the manager of a firm operating in a competitive market has estimated the firm’s average variable cost function to be AVC = 10 – 0.03Q + 0.00005Q2, TFC = 60. What is the MC function? What is the output where AVC is minimum? What is the optimum profit?A firm has revenue given by R(q) = 160q - 3q2 and its cost function is C(q) = 500 + 40 Q What is the profit-maximizing level of output? What profit does the firm earn at this output level? The firm maximizes profit by producing q = _______. (Enter your response as a whole number.) Corresponding profit is pi = $_________. Enter your response as a whole number).
- If the Long Run Price in a perfectly competitive market is 5 and the market demand is Q=50-P and if the LRMC cuts the LRAC at q=5 then the number of firms in the market is ...A competitive firm has a single factory with the cost function C(q) = 3q2 + 62 and produces 25 units in order to maximise profits. Although the price of output does not change, the firm decides to build a second factory with the cost function C(q) = 7q2 + 44. To maximise its profits, how many units should it produce in the second factory?. Suppose a firm operating in a perfectly competitive industry has costs in the short run given by: SRTC = 8 + ½q2 and therefore MC = q. Assuming that the firm is a price-taker operating in a competitive market, derive an expression for the firm’s supply curve, (the profit maximizing output for the firm as a function of the market price, i.e., q S = f(p). Assuming the firm is one of 100 identical firms in the industry, what is the short-run supply curve for the industry, i.e., Q S = f(p)? If demand is given by Q D = 1000 – 100p, what are the short-run equilibrium price, market quantity, and firm quantity? Is this a long-run equilibrium? [Hint: Calculate firm profit in the equilibrium.]