A company produces at most 15 (thousand) widgets per year. Its profit P, in thousands of dollars, is a function of n, the number of widgets prouduced per year( in thousands of widgets) the marginal profit is given by dp/dn = 20 + n -n^2. A. What is the marginal profit if n= 3 ( thousand widgets) should the company increase or decrease production B. What is the marginal profit of n= 8 ( thousand widgets) should the company increase or decrease production C. How many widgets should the compay proudcue in order to maximize

Q: The productivity of a certain country with the utilization of x units of labor and y units of…

A: Given, ​f(x,y)=100x0.65y0.35

Q: 1 1 2. Suppose a producer's production function is F(K, L) = 3KZL The cost of K is 20 (r = 20) and…

A: Microeconomic firm theory investigates how companies maximize profit through production, resource…

Q: None

A: The production function is given by: Q = a * K^0.6 * L^0.4We know the costs for capital (K) and…

Q: The long-run is a period of time long enough so that all inputs, including facility and equipment,…

A: PLEASE FIND THE ANSWER BELOW.

Q: You are analyzing a new company’s records projecting their profits using a marginal profit function,…

A: We are going to use marginal approach to answer this question.

Q: d. For this part, suppose that Ouroboros has two corporate customers. The first corporations' demand…

A: In part d, there are two types of customers  For costumer A, demand function DA=10,000-p      ....…

Q: In a factory an article is produced whose production function is: z = 15 – 2x2 + 12x – 3y? + 6y for…

A: Production function is given as: z = 15 -2x2+ 12x-3y2+6yPrice of input x = 6Price of input y =…

Q: 2. Suppose a producer's production function is F(X,L) = 3KL The cost of K is 20 (r=20) and the cost…

A: The production function of the firm represents the relationship between the physical inputs used by…

Q: Why does total cost increase faster as output increases?

A: A producer has to incur various types of costs in order to produce goods and services. This includes…

Q: 1.  It costs $25,000 to build 30 refrigerators. It costs $30,000 to build 40 refrigerators.…

A: Cost: It is the value of goods and services in terms of money.

Q: Economist T. Yntema estimated the short-run total cost function of the United States Steel…

A: Total cost is the sum of fixed cost and variable cost.  Fixed cost is that part of the total cost…

Q: You produce widgets. Currently you produce four widgets at a total cost of $40. What is your average…

A: The average cost is the total cost divided by the quantity of output whereas the marginal cost is…

Q: Part 1 of 2 40%, 2 of 5 points Points: 0 of 1 Save The marginal cost of a product can be thought of…

A: To minimize the marginal cost of producing digital cameras, we need to find the minimum point of the…

Q: For the cost function c = √q, show that marginal and average costs are always decreasing.

A: The firm produces goods and services which would result in the firm to incur cost. The production of…

Q: A company produces commercials. A 2-minute commercial, for example, needs exactly 5 minutes of…

A: Production function is used to explain how inputs and outputs relate to one another during the…

Q: A firm has access to two production processes with the following marginal cost curves: MC -0.4Q and…

A: Given; There are two production process with Marginal Cost curves:- MC1=0.4QMC2=2+0.2Q At optimal…

Q: Suppose that for a company manufacturing calculators, the cost, revenue, and profit equations are…

A:

Q: Ikea Inc., a home remodeling business. The number of square feet they can remodel in a day is…

A: The optimal combination of inputs is where the ratio of their MPs (marginal product) is equal to the…

Q: A firm has a fixed production cost of $4000. For the first 100 units of production, the firm has a…

A: Given Information: Fixed cost = $4000 For the first 100 units, the marginal cost = $50 per unit…