Homework Answers
a) output would be maximised where dP/dQ = 0
P = profit function
dP/dQ = -Q2 + 4Q + 12 = 0
Q = 6 (maximum profit output level)
(This is a maxima as d2P/dQ2 is negative)
b)
Profit (maximum) = -63/3 + 2 x 62 +12 x 6 - 6 = 66
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3. (5 pts.) FMC corporation has estimated its profit function as: II =-1/3Q3 + 202 +12Q...
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A firm has revenue given by R(q) = 220q – 392 and its cost function is...
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(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +690 - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that...
Can you label each one please . (1)A firm in a perfectly competitive market sells all...
Can you label each one please .
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(10 pts) A firm has the following relationship between output (Q) and total cost (TC): Q...
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The Hamdar's Independence_phone company (HIPC) is currently engaged in a rate case that will set rates...
The
Hamdar's Independence_phone company (HIPC) is currently engaged in
a rate case that will set rates for its area costumers. HIPC has
total assets of $220,000,000. The government of Lebanon has
determind that a 10% return on its assets is fair. HIPC has
estimated its annual demand function as follows:
P= 350_0.08
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a. find the profit maximizing level of Q, the price at profit
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ECE 202 Lab 5 Poles & Zeros, Impulse Response II Prelab 1. Assuming the initial conditions...
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Exercise 6. Consider a firm with monopoly power that faces the demand curve P= 100 – 3Q +4A 1/2 and has the total cost function C = 4Q+ 10Q + A where A is the level of advertising expenditures, and P and Q are price and output a. Find the values of A, Q and P that maximizes the firm's profit. b. Find the maximum level of profit.
A firm has revenue given by R(q) = 220q – 392 and its cost function is C(q) = 600 + 40q. What is the profit-maximizing level of output? What profit does the firm earn at this output level? The firm maximizes profit by producing q= 1. (Enter your response as a whole number.) Corresponding profit is Enter your response as a whole number.)
a firm in perfectly competitive market sells all its products
Q at constant price p
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +690 - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that...
Can you label each one please .
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) 128+ 690-14Q + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this level of output. (b)Derive the marginal...
The
Hamdar's Independence_phone company (HIPC) is currently engaged in
a rate case that will set rates for its area costumers. HIPC has
total assets of $220,000,000. The government of Lebanon has
determind that a 10% return on its assets is fair. HIPC has
estimated its annual demand function as follows:
P= 350_0.08
Its total cost function is :
TC = 2,300+130
a. find the profit maximizing level of Q, the price at profit
at profit maximization and the total amount...
2. (30 pts) There are two firms in a market, producing the same good. The firms simultaneously choose their output levels, qı for firm 1 and q2 for firm 2. The price adjusts according to the inverse demand function p= 65 – (91 +92). Each firm has a per-unit (average) cost of 5. Each firm's payoff is its profit. a. (5 pts) Find firm l's profit as a function of qı and q2 (profit equals revenue minus total cost). b....
ECE 202 Lab 5 Poles & Zeros, Impulse Response II Prelab 1. Assuming the initial conditions are zero, determine the transfer function H(s), for the circuit shown below. Also, inverse transform the transfer function to obtain the impulse response for the circuit, h() IN(S) 100? 1mH V out IN 0.01 ?F 2 What values of corespon o the poles and aeros df H)7 What yoe of signal will produce zero steady state output? constant) for this circuit? produce a zero...
Cafe Caffe sells its product at a price of €5 each (the demand curve is horizontal at this price). Its total and marginal cost functions are: TC = 50 - 4+0.019? MC = -1 +0.024 where TC and MC are measured in €, and q is the output rate. (a) Determine the output rate that maximizes profit or minimizes losses in the short run. (b) Calculate the profit earned at the output level you calculated in (a). (c) Suppose that...
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