A firm has the demand function P=500−1/8Q  and the cost function C=100+2Q+Q^2. Question text Marginal cost is increasing in Q.  Question 21Select one: True False Question text The firm's demand function suggests perfect competition.  Question 22Select one: True False Question text The firm's marginal revenue function is MR=500−1/4Q Question 23Select one: True False Question 24 Question text Given the firm's cost function, its fixed costs must depend on Q. Question 24Select one: True False Bottom of Form

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A: Given the information: Demand curve, P = 100 - 0.01Q Cost function, C = 50Q + 30000

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A: Firm maximizes profit by producing at a point where marginal revenue is equal to marginal cost

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A: Given:Marginal Cost Function of the firm: P=10+100Qi

Q: A firm has the following revenue and cost functions. TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30…

A: TR= 60 - Q - Q2 TC = 1/2 Q2 - 32 Q + 30

Q: ATC MC MR Quantity of cherries %24

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Q: You're running a small firm, and you have an estimate of both your cost function and your demand…

A: Total revenue is the product of price and quantity. Profit is the difference between the total…

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A: The variable cost can be calculated by using the below formula: If Q is 1 and TC is 8, then the…

Q: b) A firm's total cost function is TC = 0.1Q³ -0.5Q² + 8Q + 10 and total revenue is TR = 52Q -0.25Q²…

A: As given TC = 0.1Q3 -0.5Q2+8Q +10 TR = 52Q - 0.25Q2 +8

Q: QA profit-maximising firm faces a downward-sloping demand curve for its output and has marginal…

A:

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Q: In a perfectly competitive market, suppose that there are 960 firms. Market demand is given by…

A: Answer: Option (C) is Correct Explanation:

Q: If the marginal revenue function for a manufactures product is MR = R' (Q) = 5 + 10 (1 + Q)−³ ; find…

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Q: Suppose demand is Q = 10000 - 1000P and marginal cost is constant at MC=6. From the given demand…

A: In this problem, we are given the following information:- Demand curve: Q = 10000 - 1000P- Marginal…

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A: Q = 100 - P  P = 100 - Q C = 1/3 Q3 - 7Q2 + 111Q + 50 Total revenue = Price Q

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A: A firm maximizes profit at MR = MC.  Where MR is marginal revenue. MC is marginal cost.

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