A firm’s long-run total cost curve is given by: C(q) = 40q − 10q2 + q3 . Over what range of output does this technology exhibit decreasing returns to scale?   Group of answer choices q>8 q<5 None of the above are correct. q>10 q>5

Q: Suppose that the cost function for a commodity is (x) = 90 + x? dollars. (a) Find the marginal cost…

A: Answer to the question is as follows :

Q: Consider the following cost function. a. Find the average cost and marginal cost functions. b.…

A: We are given the total cost function which depends on the quantity whose range is also given. And…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: Cost of production is those costs which are incurred by the manufacturer for manufacturing the…

Q: A multiproduct firm’s cost function is   C(Q1 ,Q2 ) = 50 -0.2Q1Q2 + 0.1Q22 Are there economies of…

A: Cost function:Economies of scope occur when the total cost of producing a combination of goods or…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: The Average fixed cost is constantly declining. The average variable cost curve is lower than the…

Q: For a certain production process, fixed costs are $60,000. Variable costs are $30 per unit of…

A:

Q: Given the following cost functions: TC=100+60Q-3Q2+0.1Q3 TC=100+ 60Q+3Q2 TC=100 + 60Q Compute…

A: Since you have posted multiple questions so as per the answering guidelines, I have solved the first…

Q: The J&J company produces a number of products including shampoo, q s and toothpaste q T: Suppose the…

A: Economies of scale means the size of the company and that company's capability to sell its goods and…

Q: The average cost (AC) function is . 24/q-15+3q a) Find an expression for total cost (TC) function.…

A: Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: If C(x) is the total cost function of producing x items, then the marginal cost at x = a, given by…

A: Fixed costs don't change based on the volume of sales or output. The number of products or services…

Q: Eccles Incorporated (based in Ogden) manufactures precision steel sprockets for applications…

A: Costs are the expenses that a firm incurs in the form of purchase of inputs to produce goods and…

Q: The cost to produce x units is given by C ( x ) = 0.03x2 + 8.8x + 1600 + 6.8 square root of x.  Find…

A: Marginal-Cost(MC) is the cost(c) of producing one additional unit. Given the cost-function(c(x)),…

Q: Eccles Incorporated (based in Ogden) manufactures precision steel sprockets for applications…

A:

Q: Suppose that an ISP leases a new server in order to increase the speed of Internet service by…

A: The term cost describes any expense a business has when producing its goods or rendering its…

Q: In the following problem, c represents the average cost per unit, which is a function of the number…

A: Marginal cost refers to the addition to the total cost when one more unit of the variable factor is…

Q: The hourly operating cost of a plane which seats up to 405 passengers is estimated to be $5,328. If…

A:

Q: The cost of producing 5-gallon water bottles is given by: C(q) = 0.005q + 2q + 1000. If 2000…

A: Given: C(q) = 0.005q + 2q + 1000. Quantity (q) = 2000 units

Q: Economic cost is equal to the sum of the explicit and the implicit costs True False

A: The economics as a study is associated with the use of various resources which are available with…

Q: The Mini-Case "Economies of Scale at Google" describes economies of scale for Google Cloud Storage.…

A: The objective of the following assessment is to evaluate the marginal cost and average cost for the…

Q: The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If…

A: Marginal cost is the cost of producing one more unit of a good. It can be calculated by taking the…

Q: You are the owner of a small company that makes laptops at the price of $550. Your variable cost of…

A: The number of laptops can be found by equating price and the cost of producing laptops. We will find…

Q: Find the value of TFC if average fixed cost is $50 and the output is 50 units

A: The given information is as follows:- Average fixed cost = $50  Output = 50 units We have to…

Q: A typical firm in industry X has the following total cost function: TC = 400 + 20*q + 0.25*q2, where…

A: We have the total cost function as:  TC = 400 + 20q + 0.25 q2where q : unit of output

Q: The market for high-quality caviar is dependent on the weather. If the weather is good, there are…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: accountant for a car rental company was recently asked to report the firm's costs of producing…

A: A company's complete expense is the amount of the expenses of the multitude of information sources…

Q: Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x2 dollars to manufacture…

A: Answer:Given,Cost function:

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.