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A: Marginal product refers to change in total output due to an addition of one more unit of input.
Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||.
A: The cost function is: C(x) = 174+1.7x
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Q: What is the marginal cost, if the cost function given is C(Y)=6 a) Y? b) 3Y c) 6Y d) 12Y
A: Marginal cost refers to an additional cost that occurs from producing one more unit of output.
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A: Cost is a function of the quantity produced. It measures the cost incurred in the production of…
Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||:
A: The total cost function is: Cx=174+1.7x
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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:
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A: Average cost=total cost/quantity
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A: given c(x) = 100 + 8x + 0.1x^2 x = 50 and price per unit (P)= 20
Q: Let a two-output cost function be given by: C(y1, y2) = y1+Y2+Y1Y2 – (y142)² + yž. Assume that y1 >…
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Q: Production Function: q=32n+2nl+16l n is the size of net l is the hours of labor employed Total…
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Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: (i) the marginal cost is…
A: Answer: Given, Cq=200+5q (1). Marginal cost (MC): marginal cost refers to the addition to the total…
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A: The production function is as follows:- Q = K0.4L0.6 Production to be done is 100 units. Thus,…
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A: Total cost is the expenditure incurred in the production of goods and services. It is the cost that…
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A: Costs are the expenses that firms incur in the production of goods and services.
Q: Marginal cost equals None of the above are correct. total cost divided by quantity of output…
A: Marginal cost: The cost that is incurred on the production of an additional unit of output is…
Q: Suppose the revenue function for the sale of a product is r(x)= -3x^2+30x and the cost function is…
A: * SOLUTION :- Given that, The revenue function R(x) = -3x^2+30x The cost function C(x)= 6x
Q: Suppose a firm faces the following cost function: C(q) = 36 + 16q – 8q² + 2q%
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- You run a game-day shuttle service for parking services for the local ball club. Suppose you are compensated $10 per customer, per ride. In other words, your marginal revenue is $10. Your costs for different customer loads are summarized in the following table. For each customer load, calculate both the marginal cost and the average cost. Then answer the question that follows. Note: Round your answers to the nearest cent. Customers Total Cost Marginal Cost Average Cost ($) ($ per customer) ($ per customer) 1 $30 2 $35 3 $45 4 $60 5 $80 6 $105 7 $135 8 $170 In order to maximize profits, you should carry ______ customers per load.c. Note that these results imply the marginal revenue, or marginal benefit, of website analysis is MB(X) = 11.09 − 0.2 × X and the marginal cost of website analysis is MC(X) = 0.21 × X. What level of website analysis will maximize net benefits? Round to the nearest hundredth.Consider the graph above. If the demand curve intersects the marginal & average cost curve at 100 units, calculate the profit-maximizing quantity. Profit-maximizing quantity = Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- The variable x represents the number of HDTVs manufactured and sold in a given month. The variable p is the price charged when you sell a TV. A demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month. Also, it costs $110 to manufacture one TV. Graph the profit function, M(x)=550x-3x²-8000, and using the Maximum program, find the maximum possible profit and fill in the details (round off x to the nearest whole number): number of sales:Find the marginal cost, marginal revenue, and marginal profit functions. C(x) = 4x²; R(x) = x³ + 5x + 11 marginal cost marginal revenue marginal profit Find all values of x for which the marginal profit is zero. Interpret your answer. (Enter your answers as a comma-separated listQuestion 6. A division of chapman corporation manufacures a pager. The weekly fixed cost for the division is 20,000 dollars and the mariginal cost is MC(q) = 0.08q³+3.6q²+60q dollars per pager. The company realizes a weekly mariginal revenue of MR(q) = 0.28q³+76.2q, 0≤ q≤ 75 dollars per pager. Find the level of production that will yield a maximum profit
- D) What is total cost at the profit-maximizing quantity? E) What is the profit at the profit-maximizing quantity? F) What is total variable cost at the profit-maximizing quantity?Average and marginal profit Let C(x) represent the cost ofproducing x items and p(x) be the sale price per item if x items aresold. The profit P(x) of selling x items is P(x) = xp(x) - C(x)(revenue minus costs). The average profit per item when x items aresold is P(x)/x and the marginal profit is dP/dx. The marginal profitapproximates the profit obtained by selling one more item, given that x items have already been sold. Consider the following cost functions Cand price functions p.a. Find the profit function P.b. Find the average profit function and the marginal profit function.c. Find the average profit and the marginal profit if x = a units are sold.d. Interpret the meaning of the values obtained in part (c). C(x) = -0.02x2 + 50x + 100, p(x) = 100 - 0.1x, a = 500A major software developer has estimated the demand for its new personal finance software package to be Q=1,000,000P-2 while the total cost of the package is C = 10,000+ 25Q. If this firm wishes to maximize profit, what percentage markup should it place on this product where percentage markup is defined as 100*(sale price - marginal cost)/marginal cost? 4. a. b. C. d. e. ANS: 90% 100% 20% 40% 250%
- Given - p=35−0.5QTC=0.5Q2+5Q A)What is the profit function? Can it be maximized? B)What is profit maximizing quantity and price? C)What is the maximum possible profit? D)What are the break-even quantities? E)What quantity minimizes total cost? What is minimum total cost?Bill runs a business that makes custom-printed towels. It will cost him $8 each to purchase and print on towels, and he will have to pay a rent of $1,700 per month for him workshop. Based on market research, Bill estimates that he can sell custom towels for $25 each. a) Calculate the number of towels he needs to sell per month to break-even. towels b) Calculate the break-even in dollars (round off to the nearest cent).On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.