Suppose C(t) is the cost, in thousands of dollars, of producing t tons of white paper....
Suppose C(t) is the cost, in thousands of dollars, of producing t tons of white paper. If
C'(10) = 390,
estimate the cost of producing an additional 600 lb of paper
once 10 tons have been produced.
$
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Suppose C(t) is the cost, in thousands of dollars, of producing t tons of white paper....
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars)...
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars) 100 10 5 200 20 10 300 30 15 400 40 20 500 50 25 1) The table above gives the private costs and external costs of producing paper. Complete the table by finding the marginal social cost at each level of production. b. If the market is al competitive and is left unregulated and 400 tons of paper are produced, what is the...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.002x +0.07x2 + 18x...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.002x +0.07x2 + 18x + 600, and currently 35 chairs are produced monthly a) What is the current monthly cost? b) What would be the additional cost of increasing production to 37 chairs monthly? c) What is the marginal cost when x35? d) Use the marginal cost to estimate the differedce in cost between producing 35 and 37 chairs per month. e) Use the answer from part (d)...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)0.006+0.07%? 14x + 600,...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)0.006+0.07%? 14x + 600, and currently 40 chairs are produced monthly a)What is the current monthly cost? b)What is the marginal cost when x 407 c) Use the result from part (b) to estimate the monthly cost of increasing production to 42 chairs per month d)What would be the actual additional monthly cost of increasing production to 42 chairs monthly a) The current monthly cost is $ (Round...
PRICE (Dollars per ton of paper) Consider the market for paper. Suppose that a paper factory...
PRICE (Dollars per ton of paper) Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $450 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the social cost curve when the...
suppose the united states is currently producing 200 tons of hamburgers and 90 tons of tacos mexico is cutrently produc...
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.001 x cubed plus 0....
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.001 x cubed plus 0.07x squared + 18x + 7000 and currently 90 chairs are produced monthly. a) What is the current monthly cost? b) What would be the additional cost of increasing production to 92 chairs monthly? c) What is the marginal cost when x=90? d) Use the marginal cost to estimate the difference in cost between producing 90 and 92 chairs per month e) Use the...
The cost of recycling 4 tons of paper is given in the following table. (tons) C(q)...
The cost of recycling 4 tons of paper is given in the following table. (tons) C(q) (dollars) 1000 2400 1600 3100 2200 3640 2800 3840 3400 3900 4000 4500 Estimate the marginal costat q=2200. Interpret your answer in terms of cost. Round your answers to the nearest cent. C (2200) This means that recycling the 2201st ton of paper will cost around SU At approximately what production level does marginal cost appear smallest? 2800 S Q S 3400 The marginal...
The profit, in thousands of dollars, from the sale of thousand candles can be estimated by...
The profit, in thousands of dollars, from the sale of thousand candles can be estimated by P(x) = 3x -0.5x Inx. Complete parts (a) through (c). a) Find the marginal profit, p'(x) P'(x)=0 b) Find P'(77), and explain what this number represents P'(I)- (Type an integer or decimal rounded to the nearest thousandth as needed) What does P'(77) represent? O A The additional profit, in thousands of dollars, when 77,000 candles are sold OB. The additional profilin thousands of dollars,...
The graph illustrates the unregulated market for pulp and paper Price (dollars per ton into a...
The graph illustrates the unregulated market for pulp and paper Price (dollars per ton into a river that runs through a small town. The marginal external cost of the dumped waste is equal to twice the marginal private cost. So the marginal social cost of producing pulp and paper is three times the marginal private cost. What is the quantity of pulp and paper produced if no one owns the river? What is the deadweight loss from pulp and paper...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are shown, where x is the number of thousands of items produced. (a) Use the graph to find the formula for the revenue R(x). (b) The profit is given by P(x) = – x2 + 15x² - 27x- 50. What is the formula for the cost function C(x)? (c) Report the fixed costs. (d) Report the minimum marginal cost. (e) What is the largest profit...
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars) 100 10 5 200 20 10 300 30 15 400 40 20 500 50 25 1) The table above gives the private costs and external costs of producing paper. Complete the table by finding the marginal social cost at each level of production. b. If the market is al competitive and is left unregulated and 400 tons of paper are produced, what is the...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.002x +0.07x2 + 18x + 600, and currently 35 chairs are produced monthly a) What is the current monthly cost? b) What would be the additional cost of increasing production to 37 chairs monthly? c) What is the marginal cost when x35? d) Use the marginal cost to estimate the differedce in cost between producing 35 and 37 chairs per month. e) Use the answer from part (d)...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)0.006+0.07%? 14x + 600, and currently 40 chairs are produced monthly a)What is the current monthly cost? b)What is the marginal cost when x 407 c) Use the result from part (b) to estimate the monthly cost of increasing production to 42 chairs per month d)What would be the actual additional monthly cost of increasing production to 42 chairs monthly a) The current monthly cost is $ (Round...
PRICE (Dollars per ton of paper) Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $450 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the social cost curve when the...
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
The cost of recycling 4 tons of paper is given in the following table. (tons) C(q) (dollars) 1000 2400 1600 3100 2200 3640 2800 3840 3400 3900 4000 4500 Estimate the marginal costat q=2200. Interpret your answer in terms of cost. Round your answers to the nearest cent. C (2200) This means that recycling the 2201st ton of paper will cost around SU At approximately what production level does marginal cost appear smallest? 2800 S Q S 3400 The marginal...
The profit, in thousands of dollars, from the sale of thousand candles can be estimated by P(x) = 3x -0.5x Inx. Complete parts (a) through (c). a) Find the marginal profit, p'(x) P'(x)=0 b) Find P'(77), and explain what this number represents P'(I)- (Type an integer or decimal rounded to the nearest thousandth as needed) What does P'(77) represent? O A The additional profit, in thousands of dollars, when 77,000 candles are sold OB. The additional profilin thousands of dollars,...
The graph illustrates the unregulated market for pulp and paper Price (dollars per ton into a river that runs through a small town. The marginal external cost of the dumped waste is equal to twice the marginal private cost. So the marginal social cost of producing pulp and paper is three times the marginal private cost. What is the quantity of pulp and paper produced if no one owns the river? What is the deadweight loss from pulp and paper...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are shown, where x is the number of thousands of items produced. (a) Use the graph to find the formula for the revenue R(x). (b) The profit is given by P(x) = – x2 + 15x² - 27x- 50. What is the formula for the cost function C(x)? (c) Report the fixed costs. (d) Report the minimum marginal cost. (e) What is the largest profit...
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