Wednesday
April 16, 2014

Homework Help: Economics/Math

Posted by cb on Tuesday, November 3, 2009 at 11:00pm.

Suppose you are the manager of a small chemical company operating in a competitive market. Your cost of production can be expressed as C = 100 + Q2, where Q is the level of output and C is total cost.

a. Is this a short-run cost function?
b. What is the marginal cost function?
c. What is the level of total fixed cost?
d. If the price of chemicals is $60, what quantity of chemicals should be produced to maximize profit?
e. What will be the level of profits?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

To: Economyst - I did mean Q Suppose you are the manager of a small chemical ...
Economics/Math - Suppose there are four firms in a competitive market and that ...
economics - suppose a competitive market consists of identical firms with a ...
Economics - Suppose a market with two sellers Seller 1 has a marginal cost of c1...
Economics - Suppose a perfectly competitive firm has a cost function described ...
economics - there are just certain things that i do not understand about the ...
economics - A profit-maximizing firm in a competitive market is currently ...
Economics - The cost function for a firm is given by TC = 500 + Q2. The firm ...
managerial economics - The cost function for a firm is given by TC = 500 + Q2. ...
Economics - Suppose that Neptune Music has the copyright to the latest CD of the...

Search
Members