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You've been given the following total cost function: TC 254Q+Q2...
Assume that a competitive firm has the total cost function: TC=1q3−40q2+740q+1500 Suppose the price of the...
Assume that a competitive firm has the total cost function: TC=1q3−40q2+740q+1500 Suppose the price of the firm's output (sold in integer units) is $750 per unit. Using calculus and formulas (but no tables and restricting your use of spreadsheets to implementing the quadratic formula) to find a solution, what is the total profit at the optimal integer output level? Please specify your answer as an integer. Hint 1: The first derivative of the total cost function, which is cumulative, is...
Suppose the total cost function for a firm is given by: TC- 100+2q +0.5q2. Find the...
Suppose the total cost function for a firm is given by: TC- 100+2q +0.5q2. Find the marginal cost function and then use that to determine the marginal cost of the 20th unit. (Do not include a sign in your response.) Answer:
7) The total cost (TC) of producing computer software diskettes (Q) is given as: TC -...
7) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200 + SQ. What is the marginal cost? A) 200 B) 50 C) 5+ (200/0) D) 5 8) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200+ 50. What is the average total cost? A) 500 C) 50 B) 5+ (200/0) D) 5 enne n The marginal cost is constant at $0.10 for all
Given the total cost function for a firm is Q = output and TC = total...
Given the total cost function for a firm is Q = output and TC = total cost Q TC 0 20 1 40 2 60 3 80 4 100 5 120 6 140 the production function that generated these costs must have increasing marginal product of the variable input (labor) TURE OR FLASE
Consider the following cost function: TC(Q)=(2Q^3)-(4Q^2)+6Q+3. What is the total variable cost function? What are the...
Consider the following cost function: TC(Q)=(2Q^3)-(4Q^2)+6Q+3. What is the total variable cost function? What are the total fixed costs? What is the average variable cost function? What is the average fixed cost function? What is the average total cost function? What is the marginal cost function? For what level of output is average variable cost a minimum? What is the relationship between average and marginal cost?
4. Determine the average function and the marginal function for each of the following functions Totals:...
4. Determine the average function and the marginal function for each of the following functions Totals: a) Total income TR = 100 Q - Q2 b) Total cost TC = 1000+ 10 Q + .01 Q2 c) Total profit TP = 50 Q - 0.1 Q2 - 1000 5. Given the following total income function TR = 100 Q - Q2, determine the level of production that allow to maximize total income. 6. Given the total cost function TC =...
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 total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100...
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100 + 10Q. What is the; a. fixed cost (FC), b. variable cost (VC), c. marginal cost (MC), d. average fixed cost (AFC), e. average variable cost (AVC), f. average total cost (ATC)?
suppose a firm's total cost of production (TC) is tc=2Q^2 mc=4Q Suppose a firm's total cost...
suppose a firm's total cost of production (TC) is tc=2Q^2
mc=4Q
Suppose a firm's total cost of production (TC) is TC = 20 MC = 40 What do the firm's average total cost curve, average variable cost curve, and marginal cost curve look like? Draw the following curves from 0 to 5 units of output. 1.) Using the line drawing tool.graph the firm's average total cost curve and label it ATC 2.) Using the line drawing tool, graph the firm's...
Suppose a firm has the following total cost function: TC = 300 + 40 Q –...
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
Suppose the total cost function for a firm is given by: TC- 100+2q +0.5q2. Find the marginal cost function and then use that to determine the marginal cost of the 20th unit. (Do not include a sign in your response.) Answer:
7) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200 + SQ. What is the marginal cost? A) 200 B) 50 C) 5+ (200/0) D) 5 8) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200+ 50. What is the average total cost? A) 500 C) 50 B) 5+ (200/0) D) 5 enne n The marginal cost is constant at $0.10 for all
suppose a firm's total cost of production (TC) is tc=2Q^2
mc=4Q
Suppose a firm's total cost of production (TC) is TC = 20 MC = 40 What do the firm's average total cost curve, average variable cost curve, and marginal cost curve look like? Draw the following curves from 0 to 5 units of output. 1.) Using the line drawing tool.graph the firm's average total cost curve and label it ATC 2.) Using the line drawing tool, graph the firm's...
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