A competitive firm has a cost function C=2q³-12q²+20q+100. The optimal output at priceof 92 isa.b.C.d.e.a.b.C.d.e.A competitive firm has a cost function C=2q³-12q2+20q+100. At price 92, the optimalprofit isa.b.C.d.e.10.8.6.A competitive firm has a cost function C=2q³-12q²+20q+100. At price 92, the optimalproducer surplus isa.b.4.None of the above.C.d.e.-220.634.529.332.None of the above.-120.734.629.A competitive firm has a cost function C-2q³-12q²+20q+100. The firm's supply curve isgiven by432.None of the above.P=2q³-12q²+20q+100 for q20.P=6q²-24q+20 for q20.P-6q²-24q+20 for q23.2q³-12q²+20q+100 for q≥12.None of the above.

COST can be defined as a concept that shows the amount of expenditure and any other sacrifice such…

A competitive firm has a cost function C-2q³-12q²+20q+100. The optimal output at price of 92 is a. b. C. d. c. a. b. None of the above. A competitive firm has a cost function C-2q³-12q²+20q+100. At price 92, the optimal profit is C. d. e. a. b. C. d. c. 10. 8. A competitive firm has a cost function C-2q³-12q²+20q+100. At price 92, the optimal producer surplus is 6. 50 -220. 634. 529. 332. None of the above. C. d. e. -120. 734. 629. A competitive firm has a cost function C-2q³-12q²+20q+100. The firm's supply curve is given by 432. None of the above. a. b. P-6q²-24q+20 for q20. P-6q²-24q+20 for q23. P-2q-12q¹+20q+100 for q20. 2q-12q²+20q+100 for q≥12. None of the above.

A competitive firm has a cost function C-2q³-12q²+20q+100. The optimal output at price of 92 is a. b. C. d. c. a. b. None of the above. A competitive firm has a cost function C-2q³-12q²+20q+100. At price 92, the optimal profit is C. d. e. a. b. C. d. c. 10. 8. A competitive firm has a cost function C-2q³-12q²+20q+100. At price 92, the optimal producer surplus is 6. 50 -220. 634. 529. 332. None of the above. C. d. e. -120. 734. 629. A competitive firm has a cost function C-2q³-12q²+20q+100. The firm's supply curve is given by 432. None of the above. a. b. P-6q²-24q+20 for q20. P-6q²-24q+20 for q23. P-2q-12q¹+20q+100 for q20. 2q-12q²+20q+100 for q≥12. None of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A competitive firm's total cost is TC(Q)=3Q2+2Q+47 when the output level is Q. Accordingly, its marginal cost is MC(Q)=2*3*Q+2. The market price is P=14. You are told that the firm will not shut down in the short run. Please find its profit at the optimal output level.
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Firms in a competitive market can sell as much as they like at a market price of $16. The cost function for each firm is TC = 50 + 4Q +2Q². The associated marginal cost function is MC = 4 + 4Q and the point of minimum average cost is Q = 5. How much profit is each firm earning?
Answer options: 0, 5, 7, 10, 15, 20, 25, Other
Please get correct.
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