Economics
posted by Renee .
The following is a cost function for clinic visits in a small inner city clinic:
a.Determine the marginal cost for each level of output.
b.If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?
c.If the price per visit increases to $45, what will be the quantity supplied (assuming maximizing profits)?
Respond to this Question
Similar Questions

Economics
The Qwik Serve Clinic always has three M.D.s and eight R.N.s working at its 24hour clinic, which serves customers with minor emergencies and ailments. The clinic has hired an efficiency expert to examine its operations and make suggestions … 
Managerial Econ
The Qwik Serve Clinic always has three M.D.s and eight R.N.s working at its 24hour clinic, which serves customers with minor emergencies and ailments. The clinic has hired an efficiency expert to examine its operations and make suggestions … 
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 shortrun cost function? 
To: Economyst
I did mean Q 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 shortrun … 
Health care Economics
4. The following is a cost function for clinic visits in a small inner city clinic. Quantity of Visits Total Costs per Week Marginal cost 0 $10 0 1 15 5 2 25 10 3 45 20 4 75 30 5 115 40 6 165 50 a. Determine the marginal cost for each … 
Economics
TwoPart 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 … 
economics
he following is a cost function for clinic visits in a small inner city clinic: Quantity of Visits Total Cost per Week 0 $10 1 15 2 25 3 45 4 75 5 115 6 165 If the price per visit is given to be $25, at what level of visits will the … 
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 … 
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 … 
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 …