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Chapter 4, Section 4.5, Question 010 The average cost of manufacturing a quantity of a good,...
Chapter 4, Section 4.5, Question 021 The total cost C(q) of producing a goods is given...
Chapter 4, Section 4.5, Question 021 The total cost C(q) of producing a goods is given by: C(q) = 0.0193 – 0.6q² + 139. (a) What is the fixed cost? $ (b) What is the maximum profit if each item is sold for $7? (Assume you sell everything you produce.) $ (c) Suppose exactly 34 goods are produced. They all sell when the price is $7 each, but for each $1 increase in price, 2 fewer goods are sold. Should...
Chapter 4, Section 4.5, Question 002 The figure below shows costs with 4 = 10,000 marked....
Chapter 4, Section 4.5, Question 002 The figure below shows costs with 4 = 10,000 marked. 30,000 15,000 10,000 El Your answer is partially correct. Try again. (a) Find the average cost when the production level is 10,000 units Round your answer to two decimal places. is 11.95 The average cost when the production level is 10,000 units is S per unit which each unit's share of the total cost of producing 10,000 units the absolute tolerance is +/-0.05 (c)...
4. The average cost of producing q units of a good is the total cost of production C(q), divided by the total produ...
4. The average cost of producing q units of a good is the total cost of production C(q), divided by the total production q: AC(q) calculus by MC(g) = C"(a) = . Ca for q> 0 The marginal cost MC is given in terms of G dThe fired cost of production is C(0). Why is C(0) called the fized cost? What does it represent? a. b. If C(g) is continuous for q 2 0 and C(0)> 0, what is lim...
Chapter 15, Section 15.3, Question 037 A company manufactures x units of one item and y...
Chapter 15, Section 15.3, Question 037 A company manufactures x units of one item and y units of another. The total cost in dollars, C, of producing these two items is approximated by the function C = 5x² + 2xy + 3y2 + 800. (a) If the production quota for the total number of items (both types combined) is 33, find the minimum production cost. The minimum production cost is C = $ Number (b) Estimate the additional production cost...
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of...
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of output. b. is always equal to or greater than short-run average total cost. c. can be measured in the short-run. If a firm is producing the level of output at which long-run average cost equals long-run marginal cost, then a long-run marginal cost is at its minimum point b. long run average cost is at its minimum point. c long...
Chapter 2, Section 2.5, Question 001 It costs $4425 to produce 1295 items and it costs...
Chapter 2, Section 2.5, Question 001 It costs $4425 to produce 1295 items and it costs $4465 to produce 1305 items. What is the approximate marginal cost at a production level of 1300 items? Enter the exact answer The marginal cost is approximately 5 per item Click if you would like to Show Work for this questions Open Show Work Question Attempts: Unlimited SAVE FOR LATER SUBMIT ANSWER
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.
Chapter 4, Section 4.5, Question 016 Given an initial quantity 100 and a growth rate of...
Chapter 4, Section 4.5, Question 016 Given an initial quantity 100 and a growth rate of 4% per unit time, give a formula for the quantity as a function of time, and find the value of the quantity at = 10. Enter exact answers for On). Round your answers for Q(10) to three decimal places (a) Assume the growth rate is not continuous (10) (b) Assume the growth rate is continuous ou - O/10) Click if you would like to...
Chapter 9, Section 9.1, Question 010 Solve the equation 4 cos (60) +4 = 2 cos...
Chapter 9, Section 9.1, Question 010 Solve the equation 4 cos (60) +4 = 2 cos (60) + 5 for a value of 6 in the first quadrant. Give your answer in radians and degrees. Round your answers to three decimal places, if required. radians
Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at...
Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (x), the cost of a firm producing 2 items. An important microeconomics concept is the marginal cost defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is o items with cost C(2), then the cost of computing h additionial items is C (x +h). The average cost of those h items...
Chapter 4, Section 4.5, Question 021 The total cost C(q) of producing a goods is given by: C(q) = 0.0193 – 0.6q² + 139. (a) What is the fixed cost? $ (b) What is the maximum profit if each item is sold for $7? (Assume you sell everything you produce.) $ (c) Suppose exactly 34 goods are produced. They all sell when the price is $7 each, but for each $1 increase in price, 2 fewer goods are sold. Should...
Chapter 4, Section 4.5, Question 002 The figure below shows costs with 4 = 10,000 marked. 30,000 15,000 10,000 El Your answer is partially correct. Try again. (a) Find the average cost when the production level is 10,000 units Round your answer to two decimal places. is 11.95 The average cost when the production level is 10,000 units is S per unit which each unit's share of the total cost of producing 10,000 units the absolute tolerance is +/-0.05 (c)...
4. The average cost of producing q units of a good is the total cost of production C(q), divided by the total production q: AC(q) calculus by MC(g) = C"(a) = . Ca for q> 0 The marginal cost MC is given in terms of G dThe fired cost of production is C(0). Why is C(0) called the fized cost? What does it represent? a. b. If C(g) is continuous for q 2 0 and C(0)> 0, what is lim...
Chapter 15, Section 15.3, Question 037 A company manufactures x units of one item and y units of another. The total cost in dollars, C, of producing these two items is approximated by the function C = 5x² + 2xy + 3y2 + 800. (a) If the production quota for the total number of items (both types combined) is 33, find the minimum production cost. The minimum production cost is C = $ Number (b) Estimate the additional production cost...
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of output. b. is always equal to or greater than short-run average total cost. c. can be measured in the short-run. If a firm is producing the level of output at which long-run average cost equals long-run marginal cost, then a long-run marginal cost is at its minimum point b. long run average cost is at its minimum point. c long...
Chapter 2, Section 2.5, Question 001 It costs $4425 to produce 1295 items and it costs $4465 to produce 1305 items. What is the approximate marginal cost at a production level of 1300 items? Enter the exact answer The marginal cost is approximately 5 per item Click if you would like to Show Work for this questions Open Show Work Question Attempts: Unlimited SAVE FOR LATER SUBMIT ANSWER
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.
Chapter 4, Section 4.5, Question 016 Given an initial quantity 100 and a growth rate of 4% per unit time, give a formula for the quantity as a function of time, and find the value of the quantity at = 10. Enter exact answers for On). Round your answers for Q(10) to three decimal places (a) Assume the growth rate is not continuous (10) (b) Assume the growth rate is continuous ou - O/10) Click if you would like to...
Chapter 9, Section 9.1, Question 010 Solve the equation 4 cos (60) +4 = 2 cos (60) + 5 for a value of 6 in the first quadrant. Give your answer in radians and degrees. Round your answers to three decimal places, if required. radians
Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (x), the cost of a firm producing 2 items. An important microeconomics concept is the marginal cost defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is o items with cost C(2), then the cost of computing h additionial items is C (x +h). The average cost of those h items...
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