Explanation Given information: A reasonably realistic model of a firm’s costs is given by, C ( q ) = K q 1 / a + F , where a is a positive constant, F is the fixed cost and K measures the available technology. Proof: The concativity is determined by the second derivative. It is C ′ ( q ) = ( K q 1 / a + F ) ′ = K 1 a ⋅ q 1 − a a And then To determine (b) To find: The value of qwhichminimizes the average cost, if a < 1 .

6th Edition

ISBN: 9781119399353

Author: DA

Publisher: JOHN WILEY+SONS,INC.-CONSIGNMENT

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Question

Chapter 4.5, Problem 17P

To determine

(a)

To prove:

C is concave down if a>1 where C(q)=Kq1/a+F.

To determine

(b)

To find:

The value of qwhichminimizes the average cost, if a<1.

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Chapter 4.5, Problem 16P

Chapter 4.6, Problem 1P

Chapter 4 Solutions

EBK APPLIED CALCULUS, ENHANCED ETEXT

Ch. 4.1 - Prob. 1P Ch. 4.1 - Prob. 2P Ch. 4.1 - Prob. 3P Ch. 4.1 - Prob. 4P Ch. 4.1 - Prob. 5P Ch. 4.1 - Prob. 6P Ch. 4.1 - Prob. 7P Ch. 4.1 - Prob. 8P Ch. 4.1 - Prob. 9P Ch. 4.1 - Prob. 10P

Ch. 4.1 - Prob. 11P Ch. 4.1 - Prob. 12P Ch. 4.1 - Prob. 13P Ch. 4.1 - Prob. 14P Ch. 4.1 - Prob. 15P Ch. 4.1 - Prob. 16P Ch. 4.1 - Prob. 17P Ch. 4.1 - Prob. 18P Ch. 4.1 - Prob. 19P Ch. 4.1 - Prob. 20P Ch. 4.1 - Prob. 21P Ch. 4.1 - Prob. 22P Ch. 4.1 - Prob. 23P Ch. 4.1 - Prob. 24P Ch. 4.1 - Prob. 25P Ch. 4.1 - Prob. 26P Ch. 4.1 - Prob. 27P Ch. 4.1 - Prob. 28P Ch. 4.1 - Prob. 29P Ch. 4.1 - Prob. 30P Ch. 4.1 - Prob. 31P Ch. 4.1 - Prob. 32P Ch. 4.1 - Prob. 33P Ch. 4.1 - Prob. 34P Ch. 4.1 - Prob. 35P Ch. 4.1 - Prob. 36P Ch. 4.1 - Prob. 37P Ch. 4.1 - Prob. 38P Ch. 4.1 - Prob. 39P Ch. 4.1 - Prob. 40P Ch. 4.1 - Prob. 41P Ch. 4.1 - Prob. 42P Ch. 4.1 - Prob. 43P Ch. 4.1 - Prob. 44P Ch. 4.1 - Prob. 45P Ch. 4.1 - Prob. 46P Ch. 4.1 - Prob. 47P Ch. 4.1 - Prob. 48P Ch. 4.1 - Prob. 49P Ch. 4.1 - Prob. 50P Ch. 4.1 - Prob. 51P Ch. 4.1 - Prob. 52P Ch. 4.1 - Prob. 53P Ch. 4.1 - Prob. 54P Ch. 4.1 - Prob. 55P Ch. 4.1 - Prob. 56P Ch. 4.1 - Prob. 57P Ch. 4.1 - Prob. 58P Ch. 4.2 - Prob. 1P Ch. 4.2 - Prob. 2P Ch. 4.2 - 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Finding Local Maxima and Minima by Differentiation; Author: Professor Dave Explains;https://www.youtube.com/watch?v=pvLj1s7SOtk;License: Standard YouTube License, CC-BY

(a) To prove: C is concave down if a > 1 where C ( q ) = K q 1 / a + F .

Solution Summary: The author proves that C is concave down if a>1 where C(q)=Kq

Concept explainers

Videos

(a)

To prove:

C is concave down if a>1 where C(q)=Kq1/a+F.

(b)

To find:

The value of qwhichminimizes the average cost, if a<1.

Want to see the full answer?

Chapter 4 Solutions

(a) To prove: C is concave down if a &gt; 1 where C ( q ) = K q 1 / a + F .

Solution Summary: The author proves that C is concave down if a>1 where C(q)=Kq

Concept explainers

Videos

(a) To prove: C is concave down if a>1 where C(q)=Kq1/a+F.

(b) To find: The value of qwhichminimizes the average cost, if a<1.

Want to see the full answer?

Chapter 4 Solutions

(a) To prove: C is concave down if a > 1 where C ( q ) = K q 1 / a + F .

(a)

To prove:

C is concave down if a>1 where C(q)=Kq1/a+F.

(b)

To find:

The value of qwhichminimizes the average cost, if a<1.