Given the following data on input and output levels. Suppose the output price is $5 and input price is $10. Find the values of AVP and MVP when X = 10: X Y 0 0 2 100 4 250 6 450 8 600 10 700 12 750
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- Please only do, d,e,f please!It costs a company $58 to produce 6 units of a product and $78 to produce 10 units. Assuming that the cost is linear, how much does it cost to produce 25 units?Does the output maximization level of input use exist for the following function? If yes, then what is the exact input-use level? y = x1 + 0.1x12 - 0.05x13 + x2 + 0.1x22 - 0.05x23
- Evaluate the following question. Show your work.Please see attached image for question. Please note that there is an overline above the "K" in the oven/captial equation (K = 1). It does not show clearly in the image.The output (Q) of a production process is a function of two inputs (L and K) and K is given by the following relationship: Q = 0.50LK− 0.10L2− 0.05K2 The per-unit prices of inputs L and K are $20 and $25, respectively. The firm is interested in maximizing output subject to a cost constraint of $500. Use the lagrangian optimization techniques to find the following: How many units of L and K should be used by the firm? What is the total output of this combination? What is the marginal rate of substitution between L and K?
- A skateboard manufacturer produces skateboards at a cost of $45 each, with a monthly fixed cost of $9000. Let x be the number of boards manufactured in a month. Write a function C(x) that represents the total cost of producing x boards. A/ Write a function A(x) that represents the average cost per skateboard each month. A/ Find the equation of the horizontal asymptote of A(x). A .DThe estimated cost to produce x items is given by the function: C(x) = 0.004x² + 5x + 6000 Determine the average cost and marginal cost of producing 2,000 items and calculate the level of output for which the average cost is the lowest and what that cost is.2
- A bagel shop sells 400 bagels a day at a price of $2 per bagel. Market research shows that a decrease of price of $0.1 would increase sales by 10 bagels per day. Furthermore, a price increase would not be acceptable to the customers. Find the price at which the company should sell bagels in order to maximize its profit. Show all steps of the optimization task.Technology B uses 4 workers and 2 tonnes of coal to produce 100 meters of cloth. The worker's wages cost $10 and coal costs $5. We have previously calculated that the total cost of production is $50 and that the vertical intercept of the isocost line is 10.If there was a technology that used 1 more worker, how much would it have to decrease the coal required in order to cost the same? (Note: this is the absolute value of the slope of the isocost line.)What are the function for MC and AC if TC = 100q + 100q2
