Question 16 (of 16) value 1.00 points 1 out of 3 attempts The marginal cost of producing a certai...
3. (2 points) The marginal cost of producing q units of a certain commodity is C'(q) = 1.592 – 6q+7 dollars per unit. How much does it cost to produce 20 units of commodity, if if the total cost of producing 6 units is $100?
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 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
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...
Question 1 (3 points) Note: It is best to fill out the full table, even if the question doesnt ask for it. It never hurts to practice filling these out. Price per Unit Total Revenue (dollars) Quantity Demanded (units) 10 Marginal Revenue (dollars) Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 II 550 560 575 595 625 15 16 55 1. What is the firm's profit-maximizing output? What is the price charged to sell this output? Calculate ATC...
Nuestion 23 Not yet answered Points out of 1.00 If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm P Flag question Select one: A. is producing the agreed upon quantity B. has erected a barrier to entry C. is producing less than the agreed upon quantity D. has acted in self-interest Question 24 If a monopolist is producing the profit-maximizing output level and at this output...
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive firm is producing 2.500 units and, at the 2,500th unit, the difference between marginal revenue and marginal cost (MR-MC) POsitive, which of the following is true? Select one: A. The firm shouid increase production to maximize profit B. The 2,500th unit costs more to produce than the firm earns in revenue O C. The firm should decrease production to maximize proft D. The inm...
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...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10 11 12 Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 550 560 15 16 . • • Fill out the rest of the table. What is the firm's profit maximizing output and what is the price charged to sell this output? • Calculate ATC at the profit maximizing quantity. • When producing the profit maximizing output, what is the amount of the...