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November 29, 2014

Search: 4. A monopolist has a constant marginal and average cost of $10

Number of results: 29,765

Economics/Algebra
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of QD = 100 - 10P. Marginal revenue is given by MR=100-.20P. a. Calculate the monopolist's profit maximizing quantity, price, and profit. b. Now suppose that the monopolist fears entry, but ...
November 8, 2009 by too old

Economics
. Suppose the demand curve for a monopolist is QD =500 - P, and the marginal revenue function is MR =500 – 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist’s profit – maximizing output and price. b. Calculate the ...
August 23, 2012 by Michelle

economics
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a.Find the monopolist’s profit-maximizing output and price. b. Calculate ...
October 17, 2013 by Em

Economics/Math
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monoploist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
November 8, 2009 by too old

Economics/Algebra
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
November 9, 2009 by too old

To: Economyst - Can you please help me?
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
November 11, 2009 by too old

Economics
Suppose the demand curve for a monopolist is Qd = 500 – P, and the marginal revenue function is MR = 500 -2Q. The monopolist has a constant marginal and average total cost of $50 per unit.
January 17, 2011 by Michelle

Economics
Suppose the demand curve for a monopolist is Qd = 500 – P, and the marginal revenue function is MR = 500 -2Q. The monopolist has a constant marginal and average total cost of $50 per unit. A. Find the monopolist’s profit- maximizing output and price. B. Calculate the ...
January 17, 2011 by Michelle

economics
Suppose a monopolist faces an inverse demand function P=100-1/2Q, and the monopolist has a fixed marginal cost of $20. How much more would the monopolist make from perfect price discrimination compared to simply producing where marginal revenue equals marginal cost?
November 14, 2007 by jennifer

Macroeconomics
You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why? a) ...
July 10, 2012 by Heather

econ
You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why? a) ...
April 12, 2014 by bob

Macroeconomics
I need help to answer this question? You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which ...
April 12, 2014 by bob

Economics
A PURE MONOPOLIST SELLS OUTPUT FOR $4 PER UNIT. THE MARGINAL COST IS $3, AVERAGE VARIABLE COSTS ARE $3.75, AND AVERAGE TOTAL COSTS ARE $4.25. THE MARGINAL RVENUE IS $3. WHAT IS THE SHORT RUN CONDITION FOR THE MONOPOLIST AND WHAT OUTPUT CHANGES WOULD YOU RECCOMMEND IN THE ...
June 1, 2008 by Marquerite

ECON
A pure monopolist sells output for $4.00 per unit at the current level of production. At this level of output, the marginal cost is $3.00, average variable costs are $3.75, and average total costs are $4.25. The marginal revenue is $3.00. What is the short-run and long-run ...
March 22, 2011 by KP

economics
A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be a. at the minimum point of the marginal cost curve b. less than the (total) revenue-maximizing quantity c. equal to the (total) revenue-maximizing quantity d. in the unit elastic ...
November 13, 2010 by linda

econ
12. A monopolist faces a constant marginal cost of $1 per unit. If at the price he is charging, the price elasticity of demand for the monopolist’s output is –0.5, then
November 18, 2011 by jay

Microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
December 5, 2009 by Lorie

college/microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
December 6, 2009 by Lorie

Economics
5. A firm's marginal cost of production is constant at $5 per unit, and its fixed costs are $20. Draw its total, average variable and average costs. Marginal Cost (MC): $5 per unit Fixed Cost (FC): $20 Total Cost (TC): $25 Average Variable Cost (AVC): $5 FC is always going to ...
April 15, 2012 by Daisy

microeconomic
Consider a monopolist facing a demand curve given by P = 20 – q, where P is the market price and q is the quantity sold. The monopolist's marginal costs are MC = 2 per unit and a fixed cost of $20. What is the monopolist's profit it is charges a uniform price?
June 9, 2011 by sisca

ecoc
TC=50+16 Q -2 Q2+0.2 Q3 a.plot this curve for quantites 1 to 10 b.calculate the average total cost,average variable cost, and marginal cost for these quantities, and plot them on another graph c. discuss your results in term of decreasing,constant, and increasing marginal costs.
August 9, 2007 by kim

Microeconomics
When average total cost is declining then: a) marginal cost must be less than average cost b) marginal cost must be greater than average cost c) average toal cost must be greater than average fixed cost d) average variable cost must be declining. My answer is d but my friend ...
January 26, 2012 by Nicci

Economics
Suppose there are three types of chip consumers in the world with three different inverse demand functions given by Pa=30-1/2P, Pb=40-1/2P, and Pc=50-1/2P. The marginal cost of the monopoly that produces chips is a constant $20. What size packages should the perfectly price ...
November 14, 2007 by ashley

ecoc
i can not figure this out the economist for the grand corporation has estimated the company's cost function, using time series data, to be TC=50+16Q-2Q2+0.2Q3 a.plot this curve for quantites 1 to 10 b.calculate the average total cost,average variable cost, and marginal cost ...
August 5, 2007 by kisha

Economics
(a) Explain what is meant by the term “natural monopoly”. (b) Construct a diagram showing the average and marginal cost curves, and the demand and marginal revenue curves for a natural monopoly. Use your diagram to explain why profit maximising behaviour by the monopolist is ...
May 21, 2011 by Giska

Economics
1. The law of diminishing returns implies that at some output level: a) Marginal cost must fall b) Average total cost must diminish c) profit increases d) Marginal cost must rise e) Total cost must fall 2. The vertical distance between total cost curve and total variable cost ...
September 30, 2013 by Nathan

Microeconomics
In a natural monopoly: A) Society would be better off if antitrust laws were used to create many different firms in the market B) The marginal cost curve is positively sloped C) If the government requires marginal cost pricing, it must pay the monopolist subsidy D) The ...
September 23, 2008 by G

econ
The economist for the Grand Corporation has estimated the company’s cost function, using the times series data to be TC=50+16Q-2Q2+0.2Q3 a. Plot this curve for quanties 1 to 10 b. Calculate the average total cost, average variable cost and marginal cost for these quanties, ...
February 23, 2008 by Anonymous

home economics
The economist for the Grand Corporation has estimated the company’s cost function, using the times series data to be TC=50+16Q-2Q2+0.2Q3 a. Plot this curve for quanties 1 to 10 b. Calculate the average total cost, average variable cost and marginal cost for these quanties, ...
February 23, 2008 by Anonymous

Econ
A firm faces the following Average Cost function AC=1500Q^-1 + 300-27Q+1.5Q^2 Calculate the output level that minimizes: a) Marginal Cost b)Average Variable cost I need some help on this question. Thanks. If the average cost is AC=1500Q^-1 + 300-27Q+1.5Q^2 , then that is the ...
January 12, 2007 by Jack

Economics
Suppose that a firm is currently employing 30 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is: $3,600. a. What is marginal cost? b. What is average variable ...
March 28, 2009 by Kingram

Economics
Suppose that a firm is currently employing 30 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is: $3,600. a. What is marginal cost? b. What is average variable ...
March 29, 2009 by eStone

Economics
Hey just needed some pointers on the following questions. True or False? Explain.. 1. As long as the firm has to pay for an input, it would be wasteful not to use all input services purchased? 2. A profit-maximising competitive firm will never produce in the region where ...
October 11, 2006 by Jason

econimics
state whether the monopolist would increase or decrease output: a. Marginal revenue exceeds marginal cost at the output produced. b. Marginal cost exceeds marginal revenue at the output produced.
April 12, 2011 by tommy

Economics
Yeah, so I'm in urgent need of help with this homework. 1. Assume that in a perfectly competitive market, a firm's costs and revenue are: Marginal cost = average variable cost at $20 Marginal cost = average total cost at $30 Marginal cost = average revenue at $25 A) How will ...
October 31, 2007 by Jon

Managerial Economics
Suppose that a firm is currently employing 10 workers, the only variable input, at a wage rate of $100. The average physical product of labor is 25, the last worker added 10 units to total output, and total fixed cost is $5,000. a. What is marginal cost? b. What is average ...
November 3, 2010 by Dede

Managerial ECON
Suppose that a firm is currently employing 10 workers, the only variable input, at a wage rate of $100. The average physical product of labor is 25, the last worker added 10 units to total output, and total fixed cost is $5,000 a. What is marginal cost? b. What is average ...
November 6, 2011 by lost

Economics
The market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses. a. How does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing ...
November 25, 2006 by Sarah

advanced math
The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase productionn from 49 to 50 units of output. Suppose the marginal cost C(...
December 3, 2012 by kristina

Algebra
83. Minimizing Marginal Cost The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase production from 49 to 50 units of output. ...
November 3, 2011 by Terry

Micoreconomics
As a general rule, profit-maximizing producers in a competitive maket produce output at a point where: A) Marginal cost is increasing B) Marginal cost is decreasing C) marginal revenue is increasing D) Price is less then marginal revenue I picked C? The short-run supply curve ...
September 1, 2008 by G

Business Calculus
A company has operating costs of $2000 per thousand items produced. Its revenue function can be modeled by the equation: R(x)=30x/(x+2)˛ , where x is measured in thousands of items produced, and C and R are measured in thousands of dollars (so C(x)=2). 1. Determine the price-...
March 25, 2011 by Adriana

Microeconomics
As a general rule, profit-maximiaing producers in a competitive maket produce ouput at a point where: A) marginal cost is increasing B) marginal cost is decreasing C) marginal revenue is increasing D) price is less than marginal revenue I was picking C for the answer? The ...
August 29, 2008 by G

Economics
50. In both monopolistic competition and non-price-discriminating monopoly, isn't the marginal revenue curve lies below the demand curve? 51. A monopolistically competitive firm is producing an output level where marginal revenue is greater than marginal cost. This firm should...
December 5, 2006 by Sammy

Economics
Suppose Honda's total cost of producing 4 cars is $225,000 and its total cost of producing 5 cars is $250,000 a)What is the average total cost of producing 5 cars b)What is the marginal cost of the fifth car? c)Draw the marginal cost curve and the average total cost curve for ...
August 13, 2014 by Malima

economics
# You produce shoes. Currently you produce 4 pairs of shoes at a total cost of %40. a)what is your average total cost (ATC) b)Suppose you could produce one more( fifth)pair at a marginal cost of $20. If you do produce that fifth pair of shoe, what will your average total cost ...
November 18, 2011 by gopak

Economics
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. 1. To maximize profits in the short-run, the monopolist should: (a) Increase output (b) ...
December 4, 2011 by Jim

Economics
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. 1. To maximize profits in the short-run, the monopolist should: (a) Increase output (b) ...
December 4, 2011 by Jim

Economic
How is income distribution affected in monopolies? The market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses. a. How does the price of fertilizer compare to the average total cost, the average ...
November 26, 2006 by Mariah

Calculus
Given that C(x)=2x^3-21x^2+36x+1000 is a cost function, determine the intervals for which the cost is increasing. Determine any intervals for which the marginal cost is increasing. Marginal cost is when you derive the cost function, correct? So do you do the second derivative ...
December 7, 2013 by Lindsay

Economics
Variable cost divided by the change in quantity produced is A. average variable cost. B. marginal cost. C. average total cost. D. None of the above is correct.
November 29, 2011 by Tim

Calculus PLEASE HELP
Given that C(x)=2x^3-21x^2+36x+1000 is a cost function, determine the intervals for which the cost is increasing. Determine any intervals for which the marginal cost is increasing. Marginal cost is when you derive the cost function, correct? So do you do the second derivative ...
December 7, 2013 by Lindsay

Calculus
How do you show that the minimum average cost occurs when the average cost equals the marginal cost?
December 14, 2013 by Lindsay

Microeconomics
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and ficed costs of $200. What are the firm's profit, marginal cost, and average varible cost respectively?
September 23, 2010 by Pam

economics
For the total variable cost (TVC), draw a positive total fixed cost (TFC) and total cost (TC) curves. Then derive the associated marginal cost (MC), average total cost (ATC), average variable (AVC) and average fixed cost (AFC) curves. Be sure to capture and explain the ...
February 12, 2012 by Daca

managerial economics
Question #6 The owner of Taco Joe’s has estimated that if he lowers the price of a burrito from $2.00 to $1.50, he will increase sales from 400 to 500 burritos per day. The demand for burritos is A) elastic. B) inelastic. C) unitary elastic. D) perfectly elastic. Question #7 ...
July 25, 2008 by rich

ECONOMICS
suppose that the short run costs for a paintbrush manufacturer are given by the expression: TC= 100+2Q+.01 Q2 A. WAT ARE THE FIXED COSTS OF THIS MANUFACTURE? B. WHAT ARE THE TOTAL COSTS , AVERAGE COST, AVERAGE VARIABLE COST AND MARGINAL COST AT 50 AND 100 UNITS OF OUTPUT? C. ...
September 15, 2011 by AMAR JYOTI

Economics
TFC = $1,000 MC = $1 (and constant) 2.Assume that all households have the same demand schedule which is given by the following relationship: P = 10 – 2Q. If there are 400 households in the market, state what the market demand schedule and marginal revenue schedule look like ...
November 26, 2006 by Pete

economics
could you calulate the total, average variable, and average cost, when a company marginal cost of production is $5.00 per unit and fixed costs are $20.00
April 29, 2012 by Anonymous

economics
could you calulate the total, average variable, and average cost, when a company marginal cost of production is $5.00 per unit and fixed costs are $20.00
April 29, 2012 by Anonymous

economics
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit? b. what is the marginal cost? c. what is its average variable cost? d. is the ...
September 20, 2011 by jenny

Managerial ECON
Suppose that a firm is currently employing 20 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is $3,600. a. What is marginal cost? b. What is average variable cost...
April 5, 2008 by Thomas

economics
HELP!!!!! One and only Inc is a monopolist. The demand function for its product is estimated to be Q=60-0.4P +6Y+2A Y=3,000 P=Price per Unit Y=Per capita disposable personal income (thousands of dollars) A=hundreds of dollars of advertising expenses The Firms average variable ...
August 25, 2010 by Christina

economics
A firm has fixed costs of $30.00 and variable costs as indicated in the table below. Complete the table. Instructions: Round your answers so that you enter no more than 2 decimal places. Total Product Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average ...
October 27, 2011 by Anonymous

Microeconomics - determining how many to sel
Hi, I would really appreciate it if someone could help me with these questions: An author earns royalties from his book that are specified as 10% of the book's selling price. The demand curve for this is straight and downward sloping. 1. What rule does the author want his ...
November 11, 2006 by SuprNova

home economics
Imagine that the efficient provision of telephone calls in a medium-sized city involves an initial investment of $100 million financed by borrowing at 6 percent and variable cost of 5 cents a phone call. The phone company's annual fixed cost would be $6.0 million (6.00 percent...
April 28, 2008 by Eric

economics
A monopoly firm is different from a competitive firm in that A. there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product B. a monopolist's demand curve is perfectly inelastic while a competitive firm's demand curve ...
March 21, 2012 by Anonymous

Economics
Suppose the total output curve increases at an increasing rate for workers 1 to 50, increases at a decreasing rate from workers 51 to 101, and decreases beyond 101 workers. You would know that Choose one answer. a. marginal product is increasing from workers 1 to 50 and then ...
September 19, 2010 by Anonymous

Economics/Math
In a perfectly competitive industry, the market price is $25. A firm is currently producing 10,000 units of output, its average total cost is $28, its marginal cost is $20, and its average variable cost is $20. Given these facts, explain whether the following statements are ...
November 3, 2009 by cb

Math
For the given cost function 16 sqrt x+x^2/3375 The marginal cost at the production level 1700 The minimal average cost
September 29, 2012 by Jonathan

Math - average rate problems(check + help)
The total cost, c, in dollars of operating a factory that produces kitchen utensils is C(x)=0.5x^2+40x+8000, where x is the number of items produced in thousands. a)Determine the marginal cost of producing 5000itmes and compare this with the actual cost of producing the 5001st...
October 16, 2010 by Anonymous

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue
April 29, 2012 by dee dee

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue
April 29, 2012 by dee dee

Economics (attempted as suggested by economyst)
Posted by eStone on Sunday, March 29, 2009 at 5:47pm. Suppose that a firm is currently employing 30 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is: $3,600. a. ...
March 30, 2009 by eStone

elements of calculus
cost, revenue, and profit are in dollars and x s the number of units cost: if the cost function for a particular good is C(x)= 3x^2 +6x + 600, what is the (a) marginal cost function (b) marginal cost if 30 units are produced? (c) interpretation of your answer in part (b)?
October 11, 2011 by tara

Econ
If a pure monopolist can price discriminate by separating buyers into two or more groups: A.the marginal revenue curve and the total revenue curve will now coincide. B.the marginal revenue curve will now shift to a position above the demand curve. C.the firm will face multiple...
November 30, 2012 by Brandon

math
Let the total cost function C(x) be defined as follows. C(x) = 0.0008x3 - 0.04x2 + 99x + 4400 Find the average cost function C. C(x) = ?? Find the marginal average cost function C '. C '(x) = ??
March 22, 2013 by Kaleia

micro economics
Marginal cost is a constant $10 per tire.quantities are measured in thousands per month ans price refers to the wholesale price. marginal cost is a constant $10 per tire. american currently sells brand name tires at a wholesale price of $28.50 and private label tires for a ...
February 28, 2008 by Anonymous

Microeconomics
Monopolistic Competition A monopolistically competitive market could be considered inefficient because: A. Marginal revenue exceeds average revenue B. Price exceeds marginal cost C. Efficient scale is realized in the long run, but not in the short run D. Markup pricing does ...
October 20, 2008 by G

math
Find the average cost function C associated with the following total cost function C. C(x) = 0.000007x3 - 0.06x2 + 110x + 76000 C(x) = ?? (a) What is the marginal average cost function C' ? C'(x) = ?? (b) Compute the following values. (Round your answers to three decimal ...
March 28, 2013 by Kaleia

Business Analytic
The spreadsheet below gives some of Redstone’s production cost data. Enter this data in your own Excel spreadsheet. (Remember our discussion of Smith Farms in the Attend session!) Add columns 5, 6, 7, and 8 to show, respectively, average fixed cost (AFC), average variable cost...
November 13, 2014 by Anonymous

Math check
Average cost = q^2ˇV15q + 48 Calculate the output level (q), which minimizes a)Total Cost b)Marginal Cost I got an answer for a) is q=8 and b) is q=5 I need somebody to check it for me, thanks so much.
January 17, 2007 by yan

math
Suppose the cost C(q) (in dollars) of producing a quantity q of a product equals C(q) = 500 + 2q +1/5q^2 The marginal cost M(q) equals the instantaneous rate of change of the total cost. Find the marginal cost when a quantity of 10 items are being produced.
February 8, 2010 by kevin

calc
Suppose the cost C(q) (in dollars) of producing a quantity q of a product equals C(q) = 500 + 2q +1/5q^2 The marginal cost M(q) equals the instantaneous rate of change of the total cost. Find the marginal cost when a quantity of 10 items are being produced.
February 8, 2010 by ty

calc
Suppose the cost C(q) (in dollars) of producing a quantity q of a product equals C(q) = 500 + 2q +1/5q2. The marginal cost MC(q) equals the instantaneous rate of change of the total cost. Find the marginal cost when a quantity of 10 items are being produced.
February 7, 2010 by o

math
The daily cost C, in RM, of producing a product is C(x)=1000+72x-0.06x^2 (0 more & equal x less & equal 60) where x represents the number of product produced. a) Find the daily cost of producing 50 units b) Find the marginal cost function. c) Find C’(50) and interpret its ...
May 5, 2013 by ifi

Calculus
I have two problems that I can't figure out for my test review... 1. Productivity: Because a new employee must learn an assigned task, production will increase with time. Suppose that for the average new employee, the rate of performance is given by dN/dt=1/2?(t+1) where N is ...
April 10, 2007 by Chris

econ 460
1. The demand for a new drug is given by P = 4 – 0.5Q. The marginal cost of manufacturing the drug is constant and equal to $1 per unit. (Prices and costs are in terms of dollars, and quantities are in millions). a. Illustrate on a diagram the following curves: demand, ...
April 30, 2010 by Anonymous

Multivariate Calculus
The marginal cost function is MC(q)=300-10q, where 'q' is the number of tons of coffee produced. Fixed costs are $1000. The marginal revenue function is MR(q)=500-20q. The value of the profit function P(q) when q=25 is closest to? And the Average Cost when q=20 is closest to? ...
April 15, 2009 by Andrey

Calc Help
Marginal Cost = 30sqroot(x+4) with fixed costs of $1000. Marginal Revenue = 900. find profit or loss from production and sale of 5 units. how many units will result in a max profit? what is the max profit? Can someone please help. Trying to review for my final and really stuck...
April 29, 2007 by Rob

economics
suppose a firm's constant-returns to scale production function requires it to use capital and labor in a fixed ratio of two workers per machine to produce 10 units and that the rental rates for capital and labor are given by v=1, w=3. a. calculate the firm's long run total and...
October 4, 2007 by jon

managerial maths
A company is selling product x, which has demand fucntion of p=52-2x and the total cost function of TC=3x^2+2x+10. the marginal revenue and marginal cost functions are; a) MR=52-2X and MC=6x+2 b) MR=52-4x and MC=6x+2 c) MR=52-2X and MC=6x d) MR=52-4x and MC=6x+2
September 4, 2011 by thila29

economics
6) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: A. 0.0 B. 0.4 C. 0.6 D. 2.5 7) When labor is the variable input, the average product equals the A. ...
October 29, 2012 by johnny

economics
In long-run equilibrium, the perfectly competitive firm's price is equal to which of the following: short-run marginal cost minimum short-run average total cost marginal revenue all the above I think that it is all the above. Am I correct? I too would go with all of the above ...
December 8, 2006 by Jake

Managerial Economics
When a firm increased its output by one unit, its Average Cost rose from $45 to 50. This implies that its Marginal cost is A)greater than $50 B)between $45 and $50 C)$5 D)cannot be determined from the above information
November 12, 2007 by A

math
The daily total cost (in dollars) incurred by Trappee and Sons for producing x cases of TexaPep hot sauce is given by the following function. c(x)=0.000002x^3+3x+453 (a) Find the average cost function C. C = ? (b) Find the level of production that results in the smallest ...
November 14, 2012 by Britney

math
The daily total cost (in dollars) incurred by Trappee and Sons for producing x cases of TexaPep hot sauce is given by the following function. c(x)=0.000002x^3+3x+453 (a) Find the average cost function C. C = ? (b) Find the level of production that results in the smallest ...
November 19, 2012 by Julie (PLEASE HELP!!!)

home economics
a firm produces 20 units of output at a market price of #5, a marginal cost of $5, and an average cost of $3. what is the firms economic profit and is the firm maiximizing its economic profit. Is the formula market price-average cost x quantity 20?
November 2, 2012 by tom

Math
The daily total cost (in dollars) incurred by Trappee and Sons for producing x cases of TexaPep hot sauce is given by the following function. (a) Find the average cost function C. C = ? (b) Find the level of production that results in the smallest average production cost. (...
November 19, 2012 by Julie

Introduction programing visual basic
break even analysis. suppose a certain product sells for a dollars per unit. then the revenue from selling x units of the product is ax dollars if the cost of producting each unit of the product is b dollars and the company has overhead cost of c dollars then the total cost of...
November 23, 2011 by Sanaa

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