A firm has a cost function of C = 1000 + 20Q + 1/10Q2a) Estimate the firm’s demand function. You may assume that the slope is a wholenumber, and the intercept is a multiple of 10. b) Find the firm’s revenue function. You do not need to draw it. c) Find the marginal revenue function, and draw it on a copy of the graph. d) Find and draw the marginal cost function.e) Use your results from parts (c) and (d) to find the profit-maximising level of output.(3 marks)f) Find the market price at this level of output.

Q: Suppose that the fixed cost for a product is $200 and the break-even quantity is 50. find the…

A: The marginal profit will be computed as the selling price per unit, minus the variable cost per…

Q: If the demand function for math self-help videos is given by 45 - 0.4x, and the total cost function…

A: Demand Function for math self-help videos can be written as:P = 45 - 0.4x   , where P is the price ,…

Q: Douglas Fur is a small manufacturer of fake-fur boots in Chicago. The following table shows the…

A: Average total cost (ATC) is calculated by dividing total cost by the total quantity produced.…

Q: Find the average cost function if cost and revenue are given by C(x) = 127 + 8.6x and R(x) =…

A: Given cost function:- C(x) = 127 + 8.6x x = units of output produced

Q: 1. The total cost of producing a quantity q is C(q). The average cost a(q) is given in figure below.…

A: C’ (q 0) is the marginal cost for any q 0. The line t 2 has slope twice than that of line t 1.

Q: Suppose the Sunglasses Hut Company has a profit function given by P(q) = 0.01q2 + 3q - 21, where q…

A: (a) Marginal Profit tells the change in profit due to an additional unit of quantity.…

Q: See the table below. At a long-run chosen output level of 500, which firm size (amount of capital)…

A: In economics, the short run refers to the time period during which at least one input such as…

Q: The answer in the textbook says when x>5 how do you get that ?

A:

Q: A firm’s total revenue and total cost functions are TR = 52q − q2 TC = q3/3 − 2.5q2 + 34q + 4 At…

A: Profit is the difference between total revenue and total cost.  Profit = Total revenue - Total cost…

Q: Find the marginal profit function if cost and revenue are given by C(x) = 183 + 0.3x and R(x) = 9x -…

A: Marginal profit function measures how much the profit changes when there is a unit change in the…

Q: OR (b) Define (i) Marginal cost and (ii) Marginal revenue. The cost of producing x widgets is given…

A: (i) Marginal Cost Marginal Cost (MC) is the additional cost incurred by producing one more unit of a…

Q: Beta Industries manufactures floppy disks that consumers perceive as identical to those produced by…

A: Cost:It is the total expenditure incurred in the process of production. Cost has two types: fixed…

Q: 2) The owner of a restaurant that you are thinking of purchasing, tells you for x customers per week…

A: Cost : C(x)=15000+2x Revenue : R(x)=500x-3x2   a) Profit P(x) = Revenue R(x)-Cost C(x)…

Q: Find the marginal profit. C(x)=4x^2; R(x)=x^3+5x+15

A: Profit=Revenue-CostProfit=(x3+5x+15)-(4x2)Profit=x3-4x2+5x+15

Q: A firm has a linear demand function for it's product.When the price for the product is Sh.220,the…

A: At price of 220 and the quantity demanded is 40 units. At price of 240, the quantity demanded…

Q: Sergio Lopez is a publisher of Latin American poetry.  His fixed cost is $525, and the cost to…

A: Fixed cost is $525, and the cost to produce each individual copy of his book is $3.50.   A linear…

Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…

A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…

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: profit-maximizing firm in a competitive market is currently producing 100 units of output. It has…

A: Profit maximization is a process business firms undergo to ensure the best output and price levels…

Q: what is the ordered pair ?

A: The break even point in any business is where your revenue is just equal to your expenses. The cost…

Q: 1. Assuming that the company sells all that it produces, what is the profit function? P(z) = Hint:…

A: Note: The question has more than three sub parts. We shall solve the first three sub parts at a…

Q: 25) If a firm has the cost function C(q) = 5q² + 20q + 180 and the marginal cost function MC(q) =…

A: average cost or unit cost is equal to total cost divided by the number of units of a good produced…

Q: Find the marginal profit function if cost and revenue are given by C(x) = 190 + 0.6x and R(x) = 7x -…

A: Answer to the question is as follows:

Q: calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal…

A: Total Revenue is the value of earnings of the firm on question. It is the product of price charged…

Q: A Chinese high technology manufacturing firm has a production function of 0.80 0.20 q=16L (based on…

A: The Average Variable Cost (AVC) is the total variable cost per unit of output. Variable costs are…

Q: Given cost and price (demand) functions C(q)= 110q + 44,600 and p(g) = - 2q + 860, what is the…

A: The increase in income that occurs from the sale of one additional unit of output is known as…

Q: Suppose a firm's total cost and marginal cost are given by TC= 200 + 100+90 and MC= 10 + 180. The…

A: Firm total cost function: Marginal cost function: The average total cost is the total cost divided…

Q: Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost…

A: Quantity Total Cost Marginal Cost Fixed Cost Variable cost AVC ATC 0 120 --- 120 0 0 0 1 210 90…