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1. Simply-Balls is a company that manufactures balls for volleyball. The total cost V for making...
1. The total cost of producing pizzas for the typical firm in a local town is...
1. The total cost of producing pizzas for the typical firm in a local town is given by: C(q) 2q+2q2 Thus, marginal cost is MC 2+4g a) Show that the competitive supply behavior of the typical pizza firm is given by: q P/4-1/2. b) If there are 100 firms in the industry each acting as a perfect competitor, show that the market supply curve is, in inverse form, given by: P-2+ Q/25
The formulas below are the cost and revenue functions for a company that manufactures and sells...
The formulas below are the cost and revenue functions for a company that manufactures and sells small radio a. Use the formulas shown to write the company's profit function, P, from producing and selling x radios. b. Find the company's profit if 25,000 radios are produced and sold. C(x) = 84,000 + 38x and R(x) = 44x a. The company's profit function is Px)=(Simplify your answer.) b. The company's profit from selling 25,000 radios is $]). (Simplify your answer) Enter...
QUESTION 6 The diagram below represents the short-run total cost function for the Fidget Company, which...
QUESTION 6 The diagram below represents the short-run total cost function for the Fidget Company, which produces widgets. Please use it to answer the following questions. TC 225 ----- 180 -------- 145 ------- 120- 105 100 0 1 2 3 4 5 Q The equation for the marginal cost function represented in the diagram is: a. MC = 1002 b. MC = 100 +5Q2 OC. MC = 100 d. MC = 1000 e. MC = 100 QUESTION 9 The difference...
Derive the cost function associated with the production function in questions 2 is C(q) = 4...
Derive the cost function associated with the production function
in questions 2 is C(q) = 4 + 2q and in questions 3 is
C=wL+rK=1*8+2*4=16. The cost function is of the general form C(Q) =
xQ. What is the value of x?
2. The inverse market demand function is given by P()-20 q. Would consumers prefer to face a monopolist in this market with a cost function given by C(g)4+ 2q, or a perfectly competitive firm with a cost function given...
Help V & DRIE SUD Check my work Harris Company manufactures and sells a single product....
Help V & DRIE SUD Check my work Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 62,000 to 102,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 92.000 units during the year at a selling price of...
1. The bolt-making industry has 20 identical firms, each one has a short-run total cost function...
1. The bolt-making industry has 20 identical firms, each one has a short-run total cost function TC(q) 16 + q2 (a) What is the short-run supply of each firm? (b) The market demand is QD(p) = 110-p. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's profit. (c) Suppose that the number of firms increases to 25. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's profit
Exercise 1-11 Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a...
Exercise 1-11 Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 64,000 to 104,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 94,000 units during the year at a selling...
Exercise 1-11 Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6) Harris Company manufactures and sells a...
Exercise 1-11 Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6) Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 67,000 to 107,000 units is given below: points Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 97,000 units during the year at a...
A company manufactures two products. The price function for product A is p = 19 − 1 2 x (for 0 ≤ x ≤ 38), and fo...
A company manufactures two
products. The price function for product A is
p = 19 −
1
2
x
(for 0 ≤ x ≤ 38),
and for product B is
q = 33 − y
(for 0 ≤ y ≤ 33),
both in thousands of dollars, where x and y
are the amounts of products A and B, respectively. If the cost
function is
C(x, y) = 11x + 17y − xy + 7
thousands of dollars, find the quantities...
1. The total cost of producing pizzas for the typical firm in a local town is given by: C(q) 2q+2q2 Thus, marginal cost is MC 2+4g a) Show that the competitive supply behavior of the typical pizza firm is given by: q P/4-1/2. b) If there are 100 firms in the industry each acting as a perfect competitor, show that the market supply curve is, in inverse form, given by: P-2+ Q/25
The formulas below are the cost and revenue functions for a company that manufactures and sells small radio a. Use the formulas shown to write the company's profit function, P, from producing and selling x radios. b. Find the company's profit if 25,000 radios are produced and sold. C(x) = 84,000 + 38x and R(x) = 44x a. The company's profit function is Px)=(Simplify your answer.) b. The company's profit from selling 25,000 radios is $]). (Simplify your answer) Enter...
QUESTION 6 The diagram below represents the short-run total cost function for the Fidget Company, which produces widgets. Please use it to answer the following questions. TC 225 ----- 180 -------- 145 ------- 120- 105 100 0 1 2 3 4 5 Q The equation for the marginal cost function represented in the diagram is: a. MC = 1002 b. MC = 100 +5Q2 OC. MC = 100 d. MC = 1000 e. MC = 100 QUESTION 9 The difference...
Derive the cost function associated with the production function
in questions 2 is C(q) = 4 + 2q and in questions 3 is
C=wL+rK=1*8+2*4=16. The cost function is of the general form C(Q) =
xQ. What is the value of x?
2. The inverse market demand function is given by P()-20 q. Would consumers prefer to face a monopolist in this market with a cost function given by C(g)4+ 2q, or a perfectly competitive firm with a cost function given...
Help V & DRIE SUD Check my work Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 62,000 to 102,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 92.000 units during the year at a selling price of...
1. The bolt-making industry has 20 identical firms, each one has a short-run total cost function TC(q) 16 + q2 (a) What is the short-run supply of each firm? (b) The market demand is QD(p) = 110-p. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's profit. (c) Suppose that the number of firms increases to 25. What is the short-run equilibrium price and quantity supplied by each firm? Calculate each firm's profit
Exercise 1-11 Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 64,000 to 104,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 94,000 units during the year at a selling...
Exercise 1-11 Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6) Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 67,000 to 107,000 units is given below: points Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 97,000 units during the year at a...
A company manufactures two
products. The price function for product A is
p = 19 −
1
2
x
(for 0 ≤ x ≤ 38),
and for product B is
q = 33 − y
(for 0 ≤ y ≤ 33),
both in thousands of dollars, where x and y
are the amounts of products A and B, respectively. If the cost
function is
C(x, y) = 11x + 17y − xy + 7
thousands of dollars, find the quantities...
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