Answer
to find the Q we need to take the first differentiation of ATC and equate it with zero.
the average cost is a minimum of 40 units of output.
If TC = 4,800 + 300 + 302. what level of generates the minimum average cost?...
Question 18 If TC = 288 + 300 + 202, what level of generates the minimum average cost? Enter as a value. • Previous Nex
If TC = 432 + 30Q + 3Q2, what level of Qgenerates the minimum average cost? Enter as a value.
Question 15 TC = 218 +56Q + 302 What is the average variable cost when 12 units are produced? Enter as a value.
Question 18 Assume TC = 363 +350 +3Q2. At what Q is average cost at its minimum? Enter as a value. < Previous Not sa
Suppose a firm has the following total cost function: TC = 300 + 40 Q – 8Q2 + (2/3) Q3 (a) Write an equation for (i) average fixed cost; and (ii) average variable cost (b) What will be the value of average (total) cost when Q = 60? (c) What will be the marginal cost, when Q = 20? (d) For this firm what will be the value of average variable cost at its minimum
A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. At what level of output does the firm's average total cost achieve its minimum?
2. Consider the total cost function TC = TC(Q), where Q is output. Show that average total cost, ATG, reaches its minimum point where MC ATC.
10. Given that total cost can be expressed as TC(X) = x3 - 140x2 + 4200, find: a. the average cost function the level of output that minimizes AC (check 2nd order conditions also) the value of average cost at its minimum level
1 Economies of Scale Consider the total cost function (TC): TC(q) = 100+ 40 + 492 where q is output. 1.1 (10 points) Obtain the index of the extent of scale economies S = MCQ, where AC is average cost and MC is marginal cost. What is the value of this index when q = 2? Provide an intuitive interpretation for this number. 1.2 (10 points) Is there any range of production characterized by scale economies? At what production level...
1. A firm has a total cost function TC(y) 10y 5y+ 40. a) What is the firm's marginal cost of producing 100 units of output? b) What is the average variable cost of producing 100 units of output? c) At what level of output is average total cost at a minimum?