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3. (2 points) The marginal cost of producing q units of a certain commodity is C'(q)...
A manufacturer estimates that the marginal cost of producing a units of a certain commodity is...
A manufacturer estimates that the marginal cost of producing a units of a certain commodity is C'(q) =9q2 +62 - 37 dollars per unit. If the cost of producing 7 units is $5,000, what is the cost of producing 20 units? The cost of producing 20 units is $
Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certai...
Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certain commodity is C '(a)-12 +9 dollars per unit when q units are being produced. What is the cost of producing the second batch of 11 units? The total cost of producing the second batch of 11 units is dollars.
Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certain commodity is C...
Question 4 20 pts The cost (in dollars) of producing a units of a certain commodity...
Question 4 20 pts The cost (in dollars) of producing a units of a certain commodity is C - 4571 +152 +0.04.2? Estimate the instantaneous rate of change with respect to 2 when = 103. (This is called the marginal cost.) $22.21 per unit $23.24 per unit $27.36 per unit 58.24 per unit $19.12 per unit
2. (3 points) A company produces x units of commodity A and y units of commodity...
2. (3 points) A company produces x units of commodity A and y units of commodity B. All the units can be sold for p = 90 – x dollars per unit of A and q = 60 – y dollars per unit of B. The cost (in dollars) of producing these units is given by the joint-cost function C(x, y) = + 2xy + y? What should x and y be to maximize profit? What is this maximum profit...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
(1 point) A company produces x units of commodity A and y units of commodity B...
(1 point) A company produces x units of commodity A and y units of commodity B each hour. The company can sell all of its units when commodity A sels for p-100-8x dollars per unit and commodity B sells for q = 40-10y dollars per unit. The cost (in dollars) of producing these units is given by the joint-cost function C(x, y)-5xy +5. How much of commodity A and commodity B should be sold in order to maximize profit? Commodity...
2 3 and 4 b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production f...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
5. -/6 points HARMATHAP12 9.9.020,MI. If the cost function for a commodity is 3 + 6x2...
5. -/6 points HARMATHAP12 9.9.020,MI. If the cost function for a commodity is 3 + 6x2 + 6x + 20 dollars find the marginal cost MC at x = 9 units. (Round your answer to two decimal places.) MC = $ Tell what the marginal cost predicts about the cost of producing 1 additional unit. The cost of producing 1 additional unit is $ Tell what the marginal cost predicts about the cost of producing 2 additional units. The cost...
Question 82 Not yet answered Points out of 1.oo Remove flag Scenario 14-2 Assume a certain firm is producing Q 1,000 units of output. At Q 1,000, the firm's marginal cost equals S20 and its avera...
Question 82 Not yet answered Points out of 1.oo Remove flag Scenario 14-2 Assume a certain firm is producing Q 1,000 units of output. At Q 1,000, the firm's marginal cost equals S20 and its average total cost equals $25. The firm sells its output for S30 per unit. Refer to Scenario 14-2. To maximize its profit, the firm should Select one: a. shut down. b. decrease its output but continue to produce. C. increase its output. O d. continue...
3. Illustrate graphically Suppose that a competitive firms marginal cost of producing output q is given...
3. Illustrate graphically Suppose that a competitive firms marginal cost of producing output q is given by MC(q)= 70+6q Assume that the market price of the firm's product is $145. A. At what level of output will the firm produce? B. How much is the firm's producer surplus? C. Illustrate graphically profit maximization point and producer surplus. D. Illustrate this market at a loss. Explain.
A manufacturer estimates that the marginal cost of producing a units of a certain commodity is C'(q) =9q2 +62 - 37 dollars per unit. If the cost of producing 7 units is $5,000, what is the cost of producing 20 units? The cost of producing 20 units is $
Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certain commodity is C '(a)-12 +9 dollars per unit when q units are being produced. What is the cost of producing the second batch of 11 units? The total cost of producing the second batch of 11 units is dollars.
Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certain commodity is C...
Question 4 20 pts The cost (in dollars) of producing a units of a certain commodity is C - 4571 +152 +0.04.2? Estimate the instantaneous rate of change with respect to 2 when = 103. (This is called the marginal cost.) $22.21 per unit $23.24 per unit $27.36 per unit 58.24 per unit $19.12 per unit
2. (3 points) A company produces x units of commodity A and y units of commodity B. All the units can be sold for p = 90 – x dollars per unit of A and q = 60 – y dollars per unit of B. The cost (in dollars) of producing these units is given by the joint-cost function C(x, y) = + 2xy + y? What should x and y be to maximize profit? What is this maximum profit...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
(1 point) A company produces x units of commodity A and y units of commodity B each hour. The company can sell all of its units when commodity A sels for p-100-8x dollars per unit and commodity B sells for q = 40-10y dollars per unit. The cost (in dollars) of producing these units is given by the joint-cost function C(x, y)-5xy +5. How much of commodity A and commodity B should be sold in order to maximize profit? Commodity...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
5. -/6 points HARMATHAP12 9.9.020,MI. If the cost function for a commodity is 3 + 6x2 + 6x + 20 dollars find the marginal cost MC at x = 9 units. (Round your answer to two decimal places.) MC = $ Tell what the marginal cost predicts about the cost of producing 1 additional unit. The cost of producing 1 additional unit is $ Tell what the marginal cost predicts about the cost of producing 2 additional units. The cost...
Question 82 Not yet answered Points out of 1.oo Remove flag Scenario 14-2 Assume a certain firm is producing Q 1,000 units of output. At Q 1,000, the firm's marginal cost equals S20 and its average total cost equals $25. The firm sells its output for S30 per unit. Refer to Scenario 14-2. To maximize its profit, the firm should Select one: a. shut down. b. decrease its output but continue to produce. C. increase its output. O d. continue...
3. Illustrate graphically Suppose that a competitive firms marginal cost of producing output q is given by MC(q)= 70+6q Assume that the market price of the firm's product is $145. A. At what level of output will the firm produce? B. How much is the firm's producer surplus? C. Illustrate graphically profit maximization point and producer surplus. D. Illustrate this market at a loss. Explain.
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