2 Suppose that paper factory had a total cost function given by: TC 588 +q +3q...
2 Question 2 Tries remaining: 2and the price of a unit of paper is $109. Calculate the profit-maximizing quantity of paper. Points out of 6.25 (Round to the nearest two decimal places if necessary.) Suppose that paper factory had a total cost function given by: TC 588 +q+3q. The paper factory is a price taker Flag question Answer: Check
Suppose that a price searcher had a total cost function given by: TC= 20 + 2q +0.25Q?The demand for the price searcher's product is given by: Qp= 100 -5P Calculate the profit-maximizing quantity the monopolist will produce. Answer: Check
Suppose that a price-searcher monopolist had a total cost function given by: TC= 10 + Q +0.1Q. The demand for the price searcher's product is given by: Qp= 50-10P. Calculate the price the monopolist will charge. (Do not include a dollar sign in your response. Round to the nearest two decimals.) Answer: Check
Question 4 Consider the following cost function: TC-3Q+Q+9. Further assume that the firm is a price taker (in other words price does not depend on quantity). A. Calculate the marginal, average total, and the average variable costs of production B. At what quantity are average costs minimized?
Question 2 Incorrect Suppose that a firm had a long-run total cost function given by: TC= 1734 +7q+6q". Calculate the optimal firm size. (Round to the nearest two decimal places if necessary.) 0.00 points out of 4.00 p Flag question Answer:
Suppose that a firm has a short run, total cost function given by: TC= 1089 +10q +9q2. 1. Determine the profit-maximizing quantity of production when price is $244. _____________________________________ q= 13 2. Calculate the price at which this firm breaks even (i.e. profit = $0). _____________________________________ $208 3. Calculate the price at which this firm shuts down in the short run. _____________________________________ $10 The answers are given but can you show how to get them step by step.
$4 then what is the Suppose a consumer had a utility function given by U-9x 2Y. If the price of Good X (Px) is $8 and the price of Good Y is utility maximizing quantity of Good X the consumer will purchase with a budget of $32? (Round to the nearest two decimal places if necessary) Answer 2 Suppose a consumer had a utility function given by Uxasy02. If the price of Good X (Px) is $10 and the price...
Suppose that a price-searcher monopolist had a total cost function given by: TC= 20 + 0.5Q +0.2Q2. The demand for the price searcher's product is given by: QD= 100 -20P. Calculate the monopolist's profit.
Suppose a consumer had a utlity function given by U- X04Y02. If the price of Good X (Px) is $8 and the price of Good Y is $16 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $84? Round to the nearest decimal place if necessary) Answer Suppose an individual had a utility function given by U XY? Suppose that Bundle A contains 5 units of Good X and 5 units...
A price-taker firm has a short run total cost function given by: TC=1.2+5q+0.3q2. Calculate the short run price at which this profit- maximizing, price taker would shutdown in the short run. (Do not include a "$" sign in your response.) Answer: