Given the cost equation: TC = 20 + 3Q^{2} + 5Q, what is the marginal cost...
Given the cost equation: TC = 20 + 3Q^{2} + 5Q, what is the marginal cost at the 10th unit?
Homework Answers
Marginal cost can be derived from the total cost by taking the first order derivative of total cost function with respect to quantity produced. Thus, it can be computed in the following manner:
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Given the cost equation: TC = 20 + 3Q^{2} + 5Q, what is the
marginal cost...
Total cost function is: TC=20 + 2Q+5Q^2. What is the total cost, average total cost, average...
Total cost function is: TC=20 + 2Q+5Q^2. What is the total cost, average total cost, average fix cost, and average variable cost of producing 5 units of output? What is the marginal cost of the 6th unit of output?
uppose that total cost is given by TC = 200 + 5Q – 0.4Q2 + 0.001Q3...
uppose that total cost is given by TC = 200 + 5Q – 0.4Q2 + 0.001Q3 Select one: a. Fixed cost is 200 b. Average variable cost (AVC) is 5 – 0.4Q + 0.001Q2 c. All of the above are correct d. Variable cost (VC) is 5Q – 0.4Q2 + 0.001Q3 e. Marginal cost (MC) is 5 – 0.8Q +.003Q2
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a)...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20...
2 Suppose that paper factory had a total cost function given by: TC 588 +q +3q...
2 Suppose that paper factory had a total cost function given by: TC 588 +q +3q . The paper factory is a price taker and the price of a unit of paper is $109. Calculate the profit-maximizing quantity of paper. (Round to the nearest two decimal places if necessary.) Answer:
The marginal damage averted from pollution cleanup is MD = 200 – 5Q. The total cost associated with pollution cleanup is TC = 10Q + 0.5Q^2. a. What is the optimal level of pollution reduction? Show yo...
The marginal damage averted from pollution cleanup is MD = 200 – 5Q. The total cost associated with pollution cleanup is TC = 10Q + 0.5Q^2. a. What is the optimal level of pollution reduction? Show your work and explain b. What amount of tax per unit would generate the optimal amount of pollution reduction from part (a)? Show your work and explain
Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2....
Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2. Find the marginal cost function and then use that to determine the marginal cost of the 10th unit.
The equation for a firm’s short-run total cost is STC = 10 + 5q + 0.1q^2....
The equation for a firm’s short-run total cost is STC = 10 + 5q + 0.1q^2. Its short-run marginal cost is SMC = 5 + 0.2q. The market price is $25 per unit. a. What is the firm’s maximum profit? b. If all of the firm’s fixed costs are sunk, what is the equation for the firm’s short-run supply curve? c. If all of the firm’s fixed costs are non-sunk, what is the equation for the firm’s short-run supply curve?
Suppose a monopolist faces consumer demand given by P 400-5Q with a constant marginal cost of $20 per unit (where margi...
Suppose a monopolist faces consumer demand given by P 400-5Q with a constant marginal cost of $20 per unit (where marginal cost equals average total cost. assume the firm has no fixed costs) If the monopoly can only charge a single price, then it will earn profits of S(Enter your response rounded as a whole number.) Correspondingly, consumer surplus is S However, if the firm were to practice price discrimination such that consumer surplus becomes profit, then, holding output constant...
Industry demand is given by: P=150 – 3Q Cost curve for individual firm is given by: TC=5qi+2qi2 A...
Industry demand is given by: P=150 – 3Q Cost curve for individual firm is given by: TC=5qi+2qi2 Assume there are 2 firms in the industry A and B. Costs are the same for both firms. Find price, output and profit given that it is a centralized cartel. Find prices and output for an individual firm and profit given that it is a decentralized cartel.
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20...
2 Suppose that paper factory had a total cost function given by: TC 588 +q +3q . The paper factory is a price taker and the price of a unit of paper is $109. Calculate the profit-maximizing quantity of paper. (Round to the nearest two decimal places if necessary.) Answer:
Suppose a monopolist faces consumer demand given by P 400-5Q with a constant marginal cost of $20 per unit (where marginal cost equals average total cost. assume the firm has no fixed costs) If the monopoly can only charge a single price, then it will earn profits of S(Enter your response rounded as a whole number.) Correspondingly, consumer surplus is S However, if the firm were to practice price discrimination such that consumer surplus becomes profit, then, holding output constant...
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