A firm’s short run cost function is C(q)=150q-4q^2+0.4q^3+275 . Determine the fixed cost, F; the average...
A firm’s short run cost function is C(q)=150q-4q^2+0.4q^3+275 .
Determine the fixed cost, F; the average variable cost, AVC; Average Fixed Cost, AFC; Average Cost, AC; and the Marginal Cost, MC.
Homework Answers
Average Variable Cost, AVC = 0.4q^2 - 4q + 150
Average Fixed Cost, AFC = 275/q
Average Total Cost, ATC = 0.4q^2 - 4q +150 + 275/q
Marginal Cost, MC = 1.2q^2 - 8q + 150
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A firm’s short run cost function is
C(q)=150q-4q^2+0.4q^3+275 .
Determine the fixed cost, F; the average...
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Question 3.(12 points). Suppose a firm has a short-run cost function: C(q) = 1000 + 2009 - 5q2 + 0.573. What are the fixed cost (F), the variable cost function (VC), the marginal cost (MC), the average cost (AC), the average fixed cost (AFC) and the average variable cost (AVC)?
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Assume the short run variable cost function for Japanese beer is VC = 0.590.67 If the...
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Assume the short run variable cost function for Japanese beer is VCequals0.5q Superscript 0.8. If the...
Assume the short run variable
cost function for Japanese beer is VCequals0.5q Superscript 0.8. If
the fixed cost (F) is $600 and the firm produces 400 units,
determine the total cost of production (C), the variable cost of
production (VC), the marginal cost of production (MC), the
average fixed cost of production (AFC), and the average variable
cost of production (AVC). What happens to these costs if the firm
increases its output to 500? Assuming the firm produces 400
units,...
Assume the short run variable cost function for Japanese beer is VCequals0.55q Superscript 0.67. If the...
Assume the short run variable cost function for Japanese beer is VCequals0.55q Superscript 0.67. If the fixed cost (F) is $1800 and the firm produces 500 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs if the firm increases its output to 550? Assuming the firm produces 500 units,...
3. Suppose that the cost function of q is given by: C (q) = 16 +...
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Firm B’s short-run cost function is: C = 12 - 2q + 3q2 + F Find...
Firm B’s short-run cost function is:
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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...
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Assume the short run variable
cost function for Japanese beer is VCequals0.5q Superscript 0.8. If
the fixed cost (F) is $600 and the firm produces 400 units,
determine the total cost of production (C), the variable cost of
production (VC), the marginal cost of production (MC), the
average fixed cost of production (AFC), and the average variable
cost of production (AVC). What happens to these costs if the firm
increases its output to 500? Assuming the firm produces 400
units,...
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The short run cost function for Crunchies has Marginal Cost MC = 5+.4Q (where Q is measured in tonnes/period and MC is in $/tonne) and Fixed Costs of $720/period. Give the level of Q at which ATC reaches a minimum Numeric Answer:
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