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December 9, 2016

# Search: firm-level marginal cost and average cost functions

Number of results: 32,476

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

Maths
Demand function P=50-Q Average Cost 5Q + 40 +10/Q Calculate the firm's total cost function Find the marginal cost function and evaluate it at Q=2 and Q=3 What is the total revenue function Find the firms's revenue maximising output level Find the firm's profit function Take a ...
November 30, 2006 by Jen

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/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

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
6)Assume the graph below represents the market demand for a patented prescription drug together with the firm-level marginal cost and average cost functions for producing the drug. Assume these cost curves do not reflect R&D costs of developing this drug, but only reflect ...
November 8, 2014 by Anonymous

math/economics in calculus
The average cost of manufacturing a quantity q of a good, is defined to be a(q) = C(q)/q. The average cost per item to produce q items is given by a(q) = 0.01q2 − 0.6q + 13, for q >0. I know that the total cost is 0.01q^3-0.6q^2+13q What is the minimum marginal cost? ...
November 5, 2015 by Jasmine

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

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

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

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

math
The average cost of manufacturing a quantity q of a good, is defined to be a(q) = C(q)/q. The average cost per item to produce q items is given by a(q) = 0.01q2 − 0.6q + 13, for q >0. (a) What is the total cost, C(q),of producing q goods? For this do I just put the ...
November 4, 2015 by Jasmine

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

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

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

Microeconomics
A monopoly firm is faced with the following demand function P = 26 – 0.5Q. The Marginal Cost function for the firm is given by 6 + 6Q and the total fixed cost is 4. Determine a) The profit maximizing output. b) The level of supernormal profit if any. c) The output level at ...
July 21, 2014 by Job

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

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

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

MATHS
A company is a monopolist. The demand function for its product is as follows: Q = 60 – 0.4P + 6Y + 2A Where Q = quantity sold in units P = Price per unit Y = per capita disposal income (thousands of dollars) A = hundreds of dollars of advertising expenditures The firm’s ...
December 4, 2016 by NICO

microeconomics
The short-run cost curve for each firm's long run equilibrium output is C=y^2-20y+400. Calculate the short-run average and marginal cost curves. At what output level does short-run average cost reach a minimum? I already know the MC and the SRA is TC/Q. I got the minimum as 10...
April 5, 2010 by Jill

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

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

Help!Microeconomics
Central Crude Oil is a crude oil monopoly in a market. The following table shows the liner demand schedule of this firm which cannot apply price discrimination. The firm's fixed cost is \$2000 per month and its marginal cost is a constant of \$20 per thousand of cubic feet. ...
November 20, 2016 by Carina

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

To: Economyst
Hi there. You helped me with a couple of questions regarding Econ. I appreciate the help but my issue is I don't understand how you calculate the minimum average variable cost or the output that maximizes profit. I do understand that the price is more than the AVC so they ...
November 4, 2009 by cb

Help-Econ
Okay, this is due Tuesday. I'm woking on it but if anyone can help that would be great! Suppose firm A opeates in a perfectly competitive market. The price that currently prevails in the market is \$1,000. Firm A's marginal cost is 20Q, where Q is output. Thus, as output ...
June 20, 2005 by Trisha

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

economics
Assume the graph below represents the market demand for a patented prescription drug together with the firm-level marginal cost and average cost functions for producing the drug. Assume these cost curves do not reflect R&D costs of developing this drug, but only reflect ...
November 7, 2010 by tweetie

economics
Assume the graph below represents the market demand for a patented prescription drug together with the firm-level marginal cost and average cost functions for producing the drug. Assume these cost curves do not reflect R&D costs of developing this drug, but only reflect ...
November 7, 2010 by tweetie

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

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

Economics
10. An industry currently has 100 firms, all of which have fixed cost of \$16 and average variable cost as follows: Quantity / Average variable cost: (1/\$1),(2,\$2), (3,\$3), (4,\$4), (5,\$5), and (6,\$6) b. The price is currently \$10. What is the total quantity supplied in the ...
November 28, 2006 by Mariah

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

When we are given an expression for the Short Run Total Cost Curve (for eg: 8 + 3Q - 1.5Q^2 + 0.25Q^3), how do you derive expressions for the following: 1. Average Fixed Costs 2. Average Viarable Costs Curve 3. Marginal Costs Curve 4. Short Run Supply Curve I also have a ...
April 18, 2007 by Dan

economics
A monopoly firm is faced with the following demand function P = 13 – 0.5Q The Marginal Cost function for the firm is given by 3 + 4Q and the total fixed cost is 4 Determine 1. The the profit maximizing output 2.The level of supernormal profit if any 3. The output level at ...
June 21, 2014 by catherine

Microeconomics
A monopoly firm is faced with the following demand function P = 26 – 0.5Q. The Marginal Cost function for the firm is given by 6 + 6Q and the total fixed cost is 4. Determine a) The profit maximizing output. b) The level of supernormal profit if any. c) The output level at ...
July 21, 2014 by Job

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

calculus
The total cost of producing x units is C(q) = 2q3- 6q2-18q+108 (a) At what level of production will the total cost be minimized? (b) At what level of production will the marginal cost be minimized? (c) At what level of production will the average cost be minimized? (use calcu...
November 8, 2011 by Anonymous

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 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

13. Dell’s marginal cost curve and average total cost curve of producing a computer would shift upward if: A.) The firm realizes technological improvements B.) Workers become less productive C.) Materials prices decline for the firm D.) Business taxes decrease for the firm. ...
April 13, 2010 by Renee

economics
You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit? If not, what should it do to increase profit? If the...
May 24, 2012 by tiffany

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)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-...

eco
if the marginal product of capital of a firm is 120unit of output, rental price of machine is \$30. and marginal product of labor is 40units of output, daily wages is \$20. 1)why is this firm not maximizing output or minimizing cost in long run?? 2)how can the firm max. output ...
October 5, 2007 by evon

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

Math check
Average cost = q^2¡V15q + 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

Microeconomics
A perfectly competitive industry has a large number of potential entrants. Each firm has an identical cost structure such that long run average cost is minimized at an output of 10 units (qi=10 ). The minimum average cost is R5 per unit. Total market demand is given by: Q=750-...
August 5, 2013 by diegooooo

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

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

Microeconomics
1. Complete Table-1 (Joseph Farms, Inc., Cost and Revenue Data), either as a Microsoft Excel spreadsheet, or as a Microsoft Word table. Assume that the price is \$165 and the fixed costs are \$125, at an output level of 1. Also assume that the data represents a firm in pure ...
December 6, 2012 by Sherry

MC = 125 - 0.42Q + 0.0021Q^2 Given the estimated marginal cost function, what are the total, variable, and average cost functions? At what output level does AVC reach its minimum value in the long run? What is the value of AVC at its minimum point?
March 28, 2009 by eStone

micro economics
Consider a firm that has a fixed cost of \$60 a minute. output=1, Variable Cost= \$10 what is the fixed cost?, Total Cost? Marginal cost?, AFC?, AVC? and ATC? Output is 2? Can't quite figue it out... thanks
November 4, 2007 by tina

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

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
Output Fixed Cost Variable Cost 1 \$5 \$10 2 \$5 \$27 3 \$5 \$55 4 \$5 \$91 5 \$5 \$145 (a) What is the total cost when output is 2? (b) What is the marginal cost of the third unit? (c) How much should this firm produce if the market price is \$24?
October 29, 2007 by anonymous

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

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 ...

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

Economics/Math
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...
November 3, 2009 by cb

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

Managerial Economics
Assume the only choice variable is total benefit function is B(x) = 170x-x², and cost function is C(x) = 100-10x + 2x². a. What are the marginal benefit and marginal cost functions? b. Set up the net benefit function and then determine the level x that maximises net benefit...
May 25, 2011 by Megan

Managerial ECON
The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s short- run cost function for vacuum cleaners using an average variable cost function of the form AVC = a + bQ + cQ2 where AVC dollars per vacuum cleaner and Q number of vacuum ...
November 6, 2011 by lost

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

economics
Bubba's Burgers sells hamburgers in a perfectly competitive market at a price of \$1.50 each. At the profit-maximizing (cost-minimizing) level of output, average total cost is \$1.90 per hamburger and average variable cost is \$1.75 per hamburger. Should the firm continue to ...
February 18, 2012 by Ophilia

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
The graph on the left shows the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry. The graph on the right shows current industry demand and supply. a. What is the marginal revenue that this perfectly competitive firm will earn on its ...
November 8, 2012 by nika

Calculus
The total cost (in dollars) of producing x golf clubs per day is given by the formula C(x)=500+100x−0.1x2. (A) Find the marginal cost at a production level of x golf clubs. C′(x) = (B) Find the marginal cost of producing 35 golf clubs. Marginal cost for 35 clubs =
March 30, 2015 by Anonymous

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

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
Teddy Bear, Inc., a rapidly growing manufacturer of high fashion children's shoes, plans to open a new production facility in Gastonia. Based on information provided by the accounting department, the company estimates fixed costs of \$250,000 per year. Its average variable cost...
October 30, 2010 by hiten

Economics Review Help!
This is for a test that I'm studying for in Economics. I never did understand this stuff. Here's what I have to figure out. I've never been good at Economics, but I'm trying to get this stuff down for my final. Any help would be appreciated. Thanks in advance. Question 73 of ...
July 12, 2005 by Matt

math
The total cost C(x) of a firm is C(x) = 0.0005x^3 – 0.7x^2 – 30x + 3,000, where x is the output. The value of x; for which MVC = AVC is: (where VC denotes the variable cost, MVC denotes marginal variable cost and AVC denotes average variable cost
November 25, 2015 by moon

Microeconomics
A firm currently uses 40,000 workers to produce 180,000 units per day. The daily wage per worker is \$100, and the price of the firm’s output is \$28. The cost other variable input is \$500,000 per day. (Note assume that output is constant at the level of 180,000 units per day...
August 8, 2015 by Anonymous

Economics
. Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost \$8 \$9 \$10 \$11 \$13 \$19 \$27 \$37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize profit? b. Calculate ...
June 7, 2008 by SMsm

Economics
6. Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost \$8 \$9 \$10 \$11 \$13 \$19 \$27 \$37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize profit? b. Calculate ...
June 7, 2008 by SMsm

Economics
6. Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost \$8 \$9 \$10 \$11 \$13 \$19 \$27 \$37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize profit? b. Calculate ...
June 7, 2008 by SMsm

microeconomics
consider total cost and total revenue given in the table bellow: quantity total cost total revenue 0 \$8 0 1 \$9 8 2 \$10 16 3 \$11 24 4 \$13 32 5 \$19 40 6 \$27 48 7 \$37 56 a. Calculate profit for each quantity. How much should the firm produce to maximize profit? b. Calculate ...
January 26, 2009 by sara

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

Economics - Theory of the Firm
If Average Variable Cost AVC = 10 + Q and P = 50. Find: Total Cost TC, Total Fixed Cost TFC, Total Variable Cost TVC, Average Total Cost ATC, Average Fixed Cost AFC
March 14, 2011 by Student55

Microeconomics
Lentz's Incorporated sells paper in a perfectly competitive market at a price of \$2 per ream. At the profit-maximizing (cost-minimizing) level of output, average total cost is \$2.50 per ream and average variable cost is \$1.95 per ream. Should the firm continue to operate in ...
June 13, 2015 by Krishae

economics
This is going to be really long, but I want to see if my answers are correct. This is problem number 10.10 in my Intermediate Microeconomics book. A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost ...
November 14, 2007 by sleepy

Economics
An industry currently has 100 firms, all of which have fixed costs of \$16 and avg. variable cost as follows: Q Avg. Variable Cost (\$) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is \$10. what is the total quantity supplied in the market? c...
December 13, 2006 by Maggie

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 (micro)
2. In the table below, assume a monopsonist has the marginal-revenue-product schedule for a particular type of labor given in columns 1 and 2 and that the supply schedule for labor is that given in columns 1 and 3. (1) (2) (3) (4) (5) Number of MRP Wage Total Marginal labor ...
May 3, 2010 by Tom

ECONOMICS
A monopolistically competitve firm produces 100 units of output per period, selling each unit for \$75. Marginal revenue and marginal cost of the one-hundredth unit are each \$50. Average total cost is \$60. a) Does this situation correspond to short-run equilibrium? Why or why ...
February 18, 2015 by JAYME

Economics
Two-Part Tariff Problem Suppose that each of a firm’s customers has the following demand curve: P = 20 – 2Q. Suppose also that the firm’s total cost function is TC = 8Q. The firm is considering three pricing strategies. Strategy 1: A single per unit fee. (No entrance fee...
November 12, 2012 by Leonardo Yang

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

intro-cal
a company makes x toys daily at a cost of C(x)=125+30x+2(x to the power of 2/3) dollars. what daily production level will minimize the average cost? (note define average cost as the Total cost divided by the total number of items) thx According to your definition Average Cost...
August 9, 2007 by Jarin

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

economic
5) Assume the graph below represents the market demand for a patented prescription drug together with the long run marginal cost and average cost functions for producing the drug. (note: the diagram assumes that at output levels over 50 million AFC ~ 0, and MC is constant so ...
April 4, 2012 by coqui

Finance Management
What is the Weighted Average Cost of Capital (WACC) for a firm where debt is 40% of the firm, preferred stock is 10% of the firm, common stock is 50% of the firm, after tax cost of debt is 8%, cost of preferred stock is 12%, and the cost of common stock is 18%?
June 15, 2008 by ccbinks

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

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

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