A firm producing hockey sticks has a production function given by Q=2√KL. In the short run, the firm's amount of capital equipment fixed at K = 100. The rental rate for K is v= $1, and the wage rate for L is w = $4. If the firm's short run marginal cost is = q/50, (A) what are the STC, SAC, and SMC for the firm if it produces 25 hockey sticks? 1. STC: 2. SAC: 3. SMC: (B) what are the STC, SAC, and SMC for the firm if it produces 200 hockey sticks? 1. STC: 2. SAC: 3 SMC
A firm producing hockey sticks has a production function given by Q=2√KL. In the short run, the firm's amount of capital equipment fixed at K = 100. The rental rate for K is v= $1, and the wage rate for L is w = $4. If the firm's short run marginal cost is = q/50, (A) what are the STC, SAC, and SMC for the firm if it produces 25 hockey sticks? 1. STC: 2. SAC: 3. SMC: (B) what are the STC, SAC, and SMC for the firm if it produces 200 hockey sticks? 1. STC: 2. SAC: 3 SMC
Chapter10: Cost Functions
Section: Chapter Questions
Problem 10.3P
Related questions
Question
100%
help! rate will be given! write the solutions legibly and correctly.
![A firm producing hockey sticks has a production function given by Q=2 KL. In the short run, the firm's amount of capital equipment is
fixed at K = 100. The rental rate for K is v= $1, and the wage rate for L is w = $4. If the firm's short run marginal cost is = q/50,
(A) what are the STC, SAC, and SMC for the firm if it produces 25 hockey sticks?
1. STC:
2. SAC:
3. SMC:
(B) what are the STC, SAC, and SMC for the firm if it produces 200 hockey sticks?
1. STC:
2. SAC:
3. SMC:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10f8a75b-dc28-4f3a-9856-7a4384d2c1e0%2F16775dcb-24ef-4148-82d4-8940daf42864%2Fxclw5kd_processed.png&w=3840&q=75)
Transcribed Image Text:A firm producing hockey sticks has a production function given by Q=2 KL. In the short run, the firm's amount of capital equipment is
fixed at K = 100. The rental rate for K is v= $1, and the wage rate for L is w = $4. If the firm's short run marginal cost is = q/50,
(A) what are the STC, SAC, and SMC for the firm if it produces 25 hockey sticks?
1. STC:
2. SAC:
3. SMC:
(B) what are the STC, SAC, and SMC for the firm if it produces 200 hockey sticks?
1. STC:
2. SAC:
3. SMC:
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Micro Economics For Today](https://www.bartleby.com/isbn_cover_images/9781337613064/9781337613064_smallCoverImage.gif)
![Survey Of Economics](https://www.bartleby.com/isbn_cover_images/9781337111522/9781337111522_smallCoverImage.gif)
![Micro Economics For Today](https://www.bartleby.com/isbn_cover_images/9781337613064/9781337613064_smallCoverImage.gif)
![Survey Of Economics](https://www.bartleby.com/isbn_cover_images/9781337111522/9781337111522_smallCoverImage.gif)
![Managerial Economics: Applications, Strategies an…](https://www.bartleby.com/isbn_cover_images/9781305506381/9781305506381_smallCoverImage.gif)
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
![Economics:](https://www.bartleby.com/isbn_cover_images/9781285859460/9781285859460_smallCoverImage.gif)
![Economics For Today](https://www.bartleby.com/isbn_cover_images/9781337613040/9781337613040_smallCoverImage.gif)