Question

The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where q is hundreds of units for v
0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 2) The cost function for Acme Laundry is C(q) = 10 + 10q+q?, where q is...

    2) The cost function for Acme Laundry is C(q) = 10 + 10q+q?, where q is tons of laundry cleaned. Assume that the market is perfectly competitive. a. What q should the firm choose to maximize its profit if the market price is p? How much does it produce if p=50? b. Assume that the government imposes a per unit tax of r =2. How much should the firm produce to maximize its after-tax profit if the market price is...

  • Given the following Cost Function: C(q) = 100 + 50q – 10q + q^3. Find the...

    Given the following Cost Function: C(q) = 100 + 50q – 10q + q^3. Find the equations for Total Variable Costs, Average Variable costs, and Marginal Costs. Suppose the Value of the firm is given by 14t1+rt , where the expected profit is 100, the interest rate is 3 percent. Derive the value of the firm.

  • A price-taking firm's variable cost function is C = Q3, where Q is the output per...

    A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has an avoidable fixed cost of $1,024 per week. Its marginal cost is MC = 3Q2. What is the profit maximizing output if the price is P = $192?

  • Suppose that the cost function of a firm is C(Q) = 490 + 10Q^2 . (a)...

    Suppose that the cost function of a firm is C(Q) = 490 + 10Q^2 . (a) Provide the mathematical expressions for AFC, AVC, AC and MC. (b) Graph all the costs above as a function of Q. (c) What is true about the relation between the marginal cost and the average costs when the latter are at their minimum? And when the average cost are increasing (decreasing)? Explain.

  • 1. Suppose that a single-price monopolist faces the demand function P 100 Q where I is...

    1. Suppose that a single-price monopolist faces the demand function P 100 Q where I is average weekly household income, and that the firm's marginal cost function is given by MC(Q) 2Q. The firm has no fixed costs. = (a) If the average weekly household income is $600, find the firm's marginal revenue function. (b) What is the firm's profit-maximizing quantity of output? At what price will the firm sell that output? What will the firm's marginal cost be? (c)...

  • STC = 40 + 10Q + 0.1Q^2 . SMC = 10 + 0.2Q. The market price...

    STC = 40 + 10Q + 0.1Q^2 . SMC = 10 + 0.2Q. The market price is $20. a. Find the profit maximizing Q. b. Calculate the maximum profit. c. Find the average variable cost. d. In the short run, at what price will this firm close? e. Find the firm’s short run supply curve and express it as a function of price: Qs (P) = ?

  • Consider a competitive rm with total costs given by TC(q) = 100 + 10q + q^2,...

    Consider a competitive rm with total costs given by TC(q) = 100 + 10q + q^2, The firm faces a market price p = 50. (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q. (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q. (c) For what value of output is ATC minimized? (d) Find the profit maximizing level of output q...

  • The monopoly’s cost is a function of its output, which is C(Q)=Q2+12, and the monopoly faces...

    The monopoly’s cost is a function of its output, which is C(Q)=Q2+12, and the monopoly faces the linear inverse demand function: P=24—Q (1) Calculate the following items: marginal cost, average fixed cost, average variable cost, average total cost, and marginal revenue (2) Calculate profit-maximizing output and profit-maximizing price, determine its economic profit

  • Consider a firm that has cost function of: TC = 24 + 10Q + 1.5 Q^2...

    Consider a firm that has cost function of: TC = 24 + 10Q + 1.5 Q^2 a) Draw the average cost and marginal cost curves for this firm (label with equation). b) Draw the supply curve of this firm c) What are the profits of the firm if the price of output is $44?

  • 5. Consider the following cost function: c(q; F) = F + 10q + q2 , where2...

    5. Consider the following cost function: c(q; F) = F + 10q + q2 , where2 F > 0 represents the fixed cost: F = c(0; F). (a) Compute the marginal cost function, MC(q) = c0(q; F). (b) Show that the marginal cost function MC(q) is increasing. (c) Recall the average cost function, AC(q; F) = c(q;F) . Find qˉ(F),q the value of q (given F) at which AC(q; F) = MC(q).

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT