TC = 500 + 10Q + 0.05 Q*Q What is the firm's fixed cost What is...
TC = 500 + 10Q + 0.05 Q*Q
What is the firm's fixed cost
What is the firm's average variable cost?
Homework Answers
Fixed cost is the portion of the total cost which is a constant and which does not depend upon output level. The constant value is 500 in this cost function which means fixed cost is 500
Variable cost is the remaining portion of the total cost. Average variable cost is variable cost divided by output. When we divide the variable cost by output, (10Q + 0.05 Q*Q)/Q we find AVC = 10 + 0.05Q. this is the average variable cost.
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The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100...
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100 + 10Q. What is the; a. fixed cost (FC), b. variable cost (VC), c. marginal cost (MC), d. average fixed cost (AFC), e. average variable cost (AVC), f. average total cost (ATC)?
Marginal Cost = ∂TC/ ∂Q = (∂ 5Q2 + 10Q +180) / ∂Q How do I...
Marginal Cost = ∂TC/ ∂Q = (∂ 5Q2 + 10Q +180) / ∂Q How do I get to the = 10Q +10 solution? Please show the steps.
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q...
Consider a competitive firm 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?
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?
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (f)...
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (f) If fixed costs increase from 100 to 500, what happens to the profit-maximizing level of output, TR, TC, and π? (g) If fixed costs increase from 100 to 500, should the firm continue to operate in the short-run? What about the long-run?
Q: Suppose a firm's total cost function is TC = 16 + 5Q + 4Q2 ....
Q: Suppose a firm's total cost function is TC = 16 + 5Q + 4Q2 . What is the output level that minimizes average total cost?
Hi please write everything out legibly thank you Using the cost function TC 3 10Q+50, and...
Hi please write everything out legibly thank you
Using the cost function TC 3 10Q+50, and a production function Q KAL, K-85, L 120, determine the following 1. Quantity of output 2. Average product of labor 3. Average product of capital 4. Marginal product of labor 5 Marginal product of capital 6. Fixed cost and average fixed cost 7. Variable cost and Average variable cost 8. Total cost and average total cost 9 If capital rental rater 5 and wage...
3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q-...
3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q- + 3.1 (10 points) What are the firm's fixed costs, variable costs, average costs, average fixed cost, average variable costs, and marginal costs? 3.2 (10 points) Graph all 7 cost functions (TC, VC, FC, AC, AVC, AFC, MC) for quantities q 0 to q 10. You can use the Excel program to generate these graphs, plot C, VC, and FC in one graph and...
suppose a firm's total cost of production (TC) is tc=2Q^2 mc=4Q Suppose a firm's total cost...
suppose a firm's total cost of production (TC) is tc=2Q^2
mc=4Q
Suppose a firm's total cost of production (TC) is TC = 20 MC = 40 What do the firm's average total cost curve, average variable cost curve, and marginal cost curve look like? Draw the following curves from 0 to 5 units of output. 1.) Using the line drawing tool.graph the firm's average total cost curve and label it ATC 2.) Using the line drawing tool, graph the firm's...
Hi please write everything out legibly thank you
Using the cost function TC 3 10Q+50, and a production function Q KAL, K-85, L 120, determine the following 1. Quantity of output 2. Average product of labor 3. Average product of capital 4. Marginal product of labor 5 Marginal product of capital 6. Fixed cost and average fixed cost 7. Variable cost and Average variable cost 8. Total cost and average total cost 9 If capital rental rater 5 and wage...
3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q- + 3.1 (10 points) What are the firm's fixed costs, variable costs, average costs, average fixed cost, average variable costs, and marginal costs? 3.2 (10 points) Graph all 7 cost functions (TC, VC, FC, AC, AVC, AFC, MC) for quantities q 0 to q 10. You can use the Excel program to generate these graphs, plot C, VC, and FC in one graph and...
suppose a firm's total cost of production (TC) is tc=2Q^2
mc=4Q
Suppose a firm's total cost of production (TC) is TC = 20 MC = 40 What do the firm's average total cost curve, average variable cost curve, and marginal cost curve look like? Draw the following curves from 0 to 5 units of output. 1.) Using the line drawing tool.graph the firm's average total cost curve and label it ATC 2.) Using the line drawing tool, graph the firm's...
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