Suppose a firm has two plants with the following costs Plant 1: c, q4-75-5.62542 + 1,000,000q and...
Need to know the same thing for Plant 2 too. Suppose a firm has two plants with the following costs: Plant 1 C1 q-3003-2,400q2+1,000,000q and Plant 2. C2 = q4-45q3-3,000q2 + 2,000 000q. At what output is the average cost minimized in each plant? Plant 1 average costs are minimized at output q= (Enter a numeric response using an integer.)
A firm has two plants that produce identical output. The cost functions are C7 = 2519-202² +0.593 and C2 = 2519 – 14q² + 1.00 At what output level does the average cost curve of each plant reach its minimum? The first plant reaches minimum average cost at units of output. (Enter a numeric response using an integer.)
Joint profit maximizing output and Cournot model Consider two firms facing the demand curve P=75-5C, where Q Q1 +Q2. The firms' cost functions are Cl (Q1) = 15 +10Q1 and C2 (Q2)-10 + 20Q2. Suppose that both firms have entered the industry. What is the joint profit-maximizing level of output? How much will each firm produce? Combined, the firms will produce units of output, of which Firm 1 will produce units and Firm 2 will produceunits. (Enter a numeric response...
Suppose a firm has two plants. The costs are: TC1 = 40 + 12Q1 + Q12 TC2 = 30 + 10Q2 + .5Q22 The firm’s demand is Pm = 60 - .6Qm. Find the firm’s profit-maximizing P* and Q*, outputs allocated to plants 1 and 2, overall profit.
A firm has two independently operated plants that make the same good using the same two inputs. They differ, however, in the technology of production. One plant produces output according to the production function ~a22- while the other plant produces output according to the product on What is the firm's cost function c(w, w2,q)? b,1-b A firm has two independently operated plants that make the same good using the same two inputs. They differ, however, in the technology of production....
Suppose the total cost of producing 15,000 tennis balls is $30,000, and the fixed cost is $20,000. What is the variable cost? $10,000). (Enter a numeric response using an integer.) When output is 15,000, what is the average variable cost? $ 1.33. (Enter a numeric response using a real number rounded to two decimal places.) (Enter a numeric response using a real number rounded to two When output is 15,000, what is the average fixed cost? $ decimal places.) Assuming...
3. Suppose that steel is produced by a competitive industry. Each firm in the industry has the following cost function: TC = 36+q?. The demand function is Q = 2520-10p a. Derive an expression for marginal cost? At what output is average cost minimized? What is the short run supply curve for this industry? Be as precise as you can. b. Suppose the government gives a subsidy of 11 to each firm in the industry. The subsidy is fixed and...
Please show all workings. Thank you. plants, A and B. The marginal cost functions of each are 1. A firm produces output in two MCA 25 +0.020A and MCB 15+ 0.02Qs The firm faces the following demand function: Q =6350-25P Use this information to find profit maximizing price and total output, and output per plant. Output a. b. Price $ in plant B The firm should produce units of output in plant A and c. plants, A and B. The...
The answers I filled are wrong. 1 Suppose that two identical firms produce widgets and that they are the only firms in the market. Their costs are given by C1 = 60Q1 and C2 = 60Q2, where Q1 is the output of Firm 1 and Q2 is the output of Firm 2. Price is determined by the following demand curve: P= 900-Q where Q = Q1 +Q2: Find the Cournot-Nash equilibrium. Calculate the profit of each firm at this equilibrium....
The Move-it Company has two plants that produce forklifts and then ships them to three distribution centers. The production costs are the same at the two plants and the cost of shipping each forklift is shown in the following table. Transportation Costs Distribution Center 1 Distribution Center 2 Distribution Center 3 Plant A $800 $700 $260 Plant B $600 $800 $280 A total of 60 forklifts are produced and shipped each week. Each plant can produce up to 50 forklifts...